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We now have some more information on the revised contract that Nick Foles and the Philadelphia Eagles signed on Friday afternoon. From NFL insider Ian Rapoport:
The #Eagles and QB Nick Foles agreed to terms on a $2M raise for 2018, source said, but he can earn much more. Foles can make up to $14M total in playtime, playoffs and Pro Bowl incentives. ... He’s been paid a $3M roster bonus & signing bonus of $2M. He will make a $4M salary.
— Ian Rapoport (@RapSheet) April 21, 2018
Some more specifics on those playtime incentives:
Another detail on Foles’ deal: He gets $250k for each game he plays in (there’s a minimum percentage of snaps) and that doubles to $500k if the team wins. So theoretically, if he starts the first four games and they go 4-0, that’s another $2 million.
— Mike Garafolo (@MikeGarafolo) April 21, 2018
As Garafolo notes below, this new deal means Foles can *potentially* make $16 million more than the $7 million he was originally set to earn.
Potential to go from $7m before the redo to up to $23m. He gets his, vows to be a good backup and teammate if Wentz is ready, team has its Plan B in place. Still time to go but I can’t imagine this potentially awkward situation going any better for all sides so far. https://t.co/ygxXXU65y3
— Mike Garafolo (@MikeGarafolo) April 21, 2018
Garafolo also has some more information on how the “mutual option” for 2019 works.
Also, here’s how the “mutual option” for Foles works: The Eagles can pick up his 2019 salary ($20m). However, he can buy his way to free agency by giving back the $2m signing bonus he just received. Details are via an objective observer who viewed the deal: “Creative. I like it.”
— Mike Garafolo (@MikeGarafolo) April 21, 2018
Barring some kind of catastrophic thing happening to Carson Wentz (I’m sorry for even suggesting it), there’s no way the Eagles pick up Foles’ 2019 salary. No one is paying a backup quarterback $20 million. Especially a team like the Eagles that is very tight on cap space.
It’s clear that Foles’ camp really pushed for a deal that will reward the 29-year-old quarterback if he ends up playing more than expected in 2018. It’s interesting to see that the Eagles gave into those demands since he didn’t have leverage over them. Rewarding Foles is obviously good for culture reasons, but one can also wonder if the deal helps facilitate a trade.
I don’t know what they’re doing, honestly. I don’t buy for a second it’s a reward for winning the SB.
— Jimmy Kempski (@JimmyKempski) April 21, 2018
It’s only $1mm against this year’s cap (SB), any incentive based overage goes vs. 2019. Also makes Foles easier to deal as a starter — pays him fairly in 2018 cash but doesn’t hurt the acquiring team in 2018 cap.
— Sam Lynch (@shlynch) April 21, 2018
After all, Foles did recently say he “would love the opportunity to be a starter again.”