UPDATE: Well, that was quick. NFL insider Adam Schefter reports Foles is voiding the Eagles’ option by paying $2 million back to Philadelphia. Original story below.
The Philadelphia Eagles have notified Nick Foles that they will exercise his 2019 option, according to a report from ESPN’s Tim McManus.
This was to be expected. It was reported over the weekend that the Eagles were expected to pick up the $20 million for the 2019 NFL season.
Now the ball is in Foles’ court. The 2018 Super Bowl MVP has five days to either 1) pay back $2 million to the Eagles to void the 2019 option or 2) accept the option and remain under contract at $20 million for 2019.
It’s widely expected Foles will pay back $2 million to the Eagles so he can void the contract and potentially enter free agency.
The only way the Eagles can block Foles from becoming a free agent is if they use the franchise tag on him. NFL insider Adam Schefter recently reported “that the Eagles ARE expected to use their franchise tag on him and they ARE expected to try to trade him.” The window to apply the franchise tag lasts from February 19 until March 5.
Tagging and trade Foles is possible but it’s not necessarily likely. There are challenges that come with doing that. Essentially, Howie Roseman has to be 100% sure he can trade Foles before he tags him or else the Eagles risk having Foles’ fully guaranteed $25+ million salary on the books for 2019.
For now, we know the next step in the process is for Foles to make his decision.