PHILADELPHIA – The Eagles and Nick Foles reached an agreement on a restructured contract that awards Super Bowl LII’s most valuable player with a $2 million signing bonus and creates an option year for 2019, NFL sources said.
The NFL Network was first to report the revised deal.
Foles, 29, had only one year left on a two-year, $11 million contract he signed as a backup in March 2017. His base salary for 2018 is $4 million and he received a $3 million roster bonus last month. It’s unclear how the restructuring will affect Foles’ $7.6 million salary cap number, however.
Along with the signing bonus, he can earn millions more in incentives if he’s the starter or clears other benchmarks. The option year is being phrased as a “mutual” one, per one source, to which both sides would have to agree. The additional year can be insurance in case something happens to starter Carson Wentz.
Wentz, who suffered a season-ending knee injury on Dec. 10, said earlier this week that his goal was still to return by Week 1, but he also said there wasn’t a concrete timetable. Foles, of course, stepped into Wentz’s spot and helped lead the Eagles to a championship.
The Eagles fielded calls for Foles this offseason, but their asking price – reportedly, at least a first round pick – was too high for teams. With Wentz’s future uncertain it would have taken a lot to pry Foles, who may have to start the season initially, from the Eagles.
The restructured contract makes a trade, however slim the chances are at this point, unlikely.
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