Nick Foles Informs Eagles He’s Voiding His Option, Will Become Free Agent

Update:

Adam Schefter reports that Nick Foles is officially informing the Eagles that he is voiding his option and will pay back the $2 million in order to become an unrestricted free agent. 

This sets up a situation where the Eagles will have to either franchise Foles to trade him to another team or allow him to depart in free agency and collect a 2020 compensatory pick for him.

Tim McManus reports that the Eagles have notified QB Nick Foles that they will exercise his option for 2019.

The option will cost the Eagles $20.6 million for next season. Foles now has five days to accept or decline. 

Earlier this week, Ian Rapoport reported that the Eagles were expected to pick up Foles’ contract, so this does not come as a surprise. 

However, Rapoport added that Foles will likely pay the Eagles $2 million as part of his player option to become an unrestricted free agent. This would open up the possibility for Philadelphia to franchise Foles and then consider trading him to a team he’s willing to play for. 

Rapoport admits that the Eagles could still allow Foles to walk in free agency and collect a compensatory pick in 2020.

Adam Schefter also reported earlier this week that the Eagles are expected to franchise Foles in an effort to then try to trade him. 

According to Schefter, teams have already inquired about the Eagles’ asking price, which is expected to be around a third-round pick.

Foles, 29, is a former third-round pick of the Eagles back in 2012. Philadelphia traded Foles to the Rams back in 2015 in a deal for QB Sam Bradford and he later signed an extension with the Rams.

Unfortunately, Foles lasted just over a year with the Rams before he was released last summer and later signed by the Chiefs. The Eagles signed Foles to a two-year, $11 million contract that includes $7 million guaranteed this past March.

Foles was set to make a base salary of $4 million in 2018 when he agreed to a restructured contract this offseason.

In 2018, Foles appeared in four games and thrown for 1,192 yards while completing 69.8 percent of his passes to go along with five touchdowns and three interceptions.

We had him featured in our Top 100 – 2019 NFL Free Agents list.