The secondary users (SUs) in cognitive radio (CR) networks exploit the underutilized radio spectrum of the primary networks. In overlay CR systems, transmit waveforms can be designed either in orthogonal frequency-division multiplexing or in multicarrier code division multiple access modulation formats by deactivating subcarriers corresponding to primary users’ frequency bands to avoid interference. Transmissions of these overlay CR waveforms are expected to be extremely wideband, occupying up to 1 GHz of bandwidth. As reception of such wideband signals requires very high Nyquist sampling rates, we propose to employ a sub-Nyquist sampling front end. The proposed sub-Nyquist sampling receiver collects as coherently as possible all the SU signals spread across the entire frequency span of interest. Our theoretical analysis and simulation results demonstrate that the proposed receiver performs very close to the Nyquist rate receiver with significantly reduced complexity.