Foles 'to buy out contract' after Eagles pick up $20M option
Nick Foles has informed the Philadelphia Eagles he will pay $2million to buy out the final year of his contract, after the franchise picked up his $20m option for 2019.
According to NFL.com, the 30-year-old indicated his intention to pay up and void the deal for 2019 less than an hour after he had been informed by the team that they would be taking up their option.
The Eagles have made it clear Carson Wentz is their starting quarterback going forward, but the status of back-up Foles – who led them to glory in Super Bowl LII and again stepped in at the end of last season – has been uncertain.
However, after the Eagles took up their option and Foles promptly voided it, the situation has now become clearer.
The team will need to use the franchise tag, expected to be worth around $25m, to keep him under contract, which would allow them to pursue trade offers and receive draft picks as compensation for the QB.
If the Eagles do not use the tag, Foles will become an unrestricted free agent.
Given his late-season heroics the past two years, he should be a hot commodity if he reaches free agency.
Among possible destinations mentioned for Foles are the Jacksonville Jaguars, Miami Dolphins, Denver Broncos, Cincinnati Bengals and Washington Redskins.
Foles is in his second spell with the Eagles, who drafted him in the third round of the 2012 NFL Draft.
Sources: #Eagles QB Nick Foles is, in fact, buying back his freedom for $2M, voiding the new and final year of his contract. Now, he’s a free agent... unless Philly hits him with the roughly $25M franchise tag.— Ian Rapoport (@RapSheet) February 6, 2019