When Chicago Bears general manager Ryan Pace traded for Nick Foles last month, some Bears fans were infuriated because of his contract, noting that it was one of the worst contracts in the NFL.
After the Bears traded for Foles, it was reported that the team would restructure his contract. Which would explain the compensation of a fourth-round pick given to the Jacksonville Jaguars in exchange for Foles.
The Foles trade was made official Tuesday, and his contract details have been revealed. According to NFL Network’s Ian Rapoport, Foles will earn $8 million per year over the next three years.
As far as base salary, Nick Foles earns $8M each year. And he’ll make the same $24M fully guaranteed that he was slated to make in Jax. https://t.co/NCuaJUvtgg
— Ian Rapoport (@RapSheet) April 1, 2020
Sounds like just a plain $8M cap hit in 2020, 2021, and 2022.
If it’s all base salary, that means there’s $12.25M guaranteed after Year 1, presumably the full $8M again in 2021 and then $4.25M in 2022
Doesn’t seem like any retention from the Jaguars. Trade value bit perplexing https://t.co/N1obKRHHOA
— BradOTC (@BradOTC) April 1, 2020
Foles will still make $24 million in guarantees, but it will all be spread out over the next three years. As reported by Rapoport, Foles can earn up to $6 million in incentives per year.
That $9 million in salary cap space is outstanding after the Bears only had about $1.5 million before Foles’ restructured deal. With that $9 million in cap space, Pace can make a couple of moves heading into the NFL Draft. I’d like to see Pace go out and sign safety Tony Jefferson and offensive guard Kelechi Osemele.
The Bears could free up more than $9 million in cap space if they were to restructure a couple of deals and by extending receiver Allen Robinson, which will hopefully happen soon.
With the Foles contract situated, the team looks to be in good shape heading into the 2020 season, and for Foles, there is plenty of motivation for him.
If the Bears end up getting solid quarterback play out of Foles, assuming he wins the starting job, then his cap hit would certainly be worth it.
[lawrence-related id=441494,441442,441481,441392]