Fresh off a trade to the Bears, quarterback Nick Foles has restructured his contract, according to ESPN’s Adam Schefter (via Twitter).
The deal still has three years remaining and $21MM guaranteed. However, Foles now has the option to void the contract (depending on his performance) after either of his first two seasons in Chicago. Foles can presumably still earn upwards of $50MM over the next three years.
Earlier today, the Bears sent a compensatory fourth-round to the Jaguars for the former Super Bowl MVP. This offseason, the Bears had been looking for a challenger to former first-round pick Mitchell Trubisky, and Foles will give the 26-year-old a run for his money.
Jacksonville was 0-4 in Foles’ four starts last season, with the 31-year-old completing 65.8-percent of his passes for 736 yards, three touchdowns, and two interceptions.
Unless I’m misunderstanding this, this doesn’t make any sense for the Bears. Why adjust his contract if the only change is giving him the ability to opt out sooner?
If his contract is still an albatross, they’re still stuck with him. If he plays well, he can leave sooner. Good for Foles, but the Bears don’t benefit at all from doing this.
The way foles is if he’s not happy he’ll walk away from all that money
Foles had leverage and used it.
He had leverage? How so?
Foles made it known he was willing to re-structure in order to get out of Jax. Jags are eating his lucrative signing bonus to get draft compensation from Chicago. Foles takes a bit less this year in exchange for opt outs. Bears maintain a bit of cap space.
Good pick for the bears, still wonder where Joe going
im telling you Bears fans, if the keys are handed over to Foles and he stays healthy he will deliver.
I think so too. He was the best option in my opinion.
I don’t hate the foles add, I hate his contract, and how bad our oline is, no quarterback performs behind a terrible oline, still nothing done to address that
The NFC is going to be pretty wild this year. Looking at the teams. I only see two teams who really can’t make a run. The lions and the redskins.
The cardinals, Bucs, panthers, bears all made some convincing moves.
The giants can surprise people.
Then you have the 49ers, Seahawks, rams, packers, Vikings, eagles, cowboys, saints, and falcons.
It’s going to be wild and unpredictable.
If there is an NFL season.
18 months
People have been using the word leverage a lot today. I do not think it means what they think it means.
I see what you did there, Inigo.