Nick Foles, Jaguars reportedly working on contract worth $22 million annually

By now, it’s been reported approximately a billion times that Nick Foles is going to sign a contract with the Jacksonville Jaguars when NFL free agency starts. Now that the legal tampering window is open, we have an update on Foles’ status. Mike Silver had the following to say on NFL Network:

“I would expect this — if it’s going to happen — to happen by the end of tonight. I think we’re looking at a deal somewhere in the $21 - $22 million annual range, multi-year deal. If they can get it done by the end of tonight, I think it happens. If not, they would probably move on an look at your Teddy Bridgewaters, maybe Ryan Tannehill when he becomes available. They’re cautiously optimistic this will get done and that it will get done quickly.”

Foles getting $22 million per year would put him just outside the top 10 NFL quarterback contracts in terms of annual value. That’s a whole lotta dough.

Assuming this report is true and the contract materializes, it’s very good news for the Philadelphia Eagles. The more lucrative the contract Foles receives, the better chance the Eagles have of netting a third-round compensatory pick in the 2020 NFL Draft. That’s the highest compensation Philly can receive for their Super Bowl MVP since Foles is a free agent.

It goes without saying that Foles performed admirably for the Eagles over the past two seasons. He deserves a big pay day and a starting role. It continues to look like the Jags will be the team that gives it to him.