You can bet yourself that Philadelphia Eagles quarterback Nick Foles is aware of the massive contract extension that the San Francisco 49ers handed out to fourth year QB Colin Kaepernick on Wednesday afternoon.
Kaepernick's deal is actually historical. It's a six-year agreement that will keep Kaepernick under contract until 2020. The deal is worth up to a huge total of $126 million with over $21 million per year. Nearly half of the total worth is guaranteed at a total of $61 million. That's the highest guaranteed money ever for any NFL player.
So, yeah, that's a huge commitment. But then again that's just how the NFL quarterback market is these days. QBs are really important in today's game so they're bound to get crazy money.
Given the high quality performance Nick Foles had in 2013, it's easy to think he could receive a similarly massive deal if he plays well again in 2014. Note that Foles isn't eligible to have his contract extended until after this upcoming season is over. Fellow 2012 NFL Draft class QB and Seahawks signal caller Russell Wilson will also be up for some big money in 2015. It'll be interesting to see whose deal gets done first, but at this point it only seems like a waiting game.
If Foles plays really well again for the Eagles, they won't have a problem paying him the (expensive) market value. If Foles is flat out bad, the team probably won't be in a rush to extend him and could let him play out the final year of his rookie contract. If Foles' 2014 performance falls in-between the extremes, which seems likely, then that's where things get tricky. QBs are important and hard to find; but at the same time you can't afford to commit big money and several years to mediocrity. This is the problem that the Chiefs and Bengals are facing with Alex Smith and Andy Dalton respectively. They know those players can help them win, but they don't want to be stuck with "good enough."
For the Eagles' best interest, hopefully that's not the position they're put in after next season.