As expected, Nick Foles is voiding a contract option exercised by the Philadelphia Eagles, per reports Tuesday. In order to get better compensation for Foles, the team decided it was worth picking up his $20 million option. Foles would have to pay the Eagles $2 million to opt out. Foles quick resolution eliminated any melodrama or rumors about his feelings. This would give the Eagles a cap hit of $25 million next season.
There has been some specualtion and reporting that the Eagles might decide to place the franchise tag on Foles in an attempt to trade him.
Nick Foles is a free agent for now. He led the Eagles to a Super Bowl win over the Patriots in 2018, and he took them back to the postseason in 2019. That would force Philadelphia to make a number of hard salary cap decisions just to keep a backup quarterback.
The risk for the Eagles in placing the franchise tag on Foles is that if they do so and can't find a trading partner, they would be on the hook for his sizable salary.
The Eagles could also decide to tag Foles and simply keep him, particularly if the team has lingering questions about Wentz's ability to stay healthy.
The Eagles don't have to do that.
Eagles quarterback Carson Wentz refuted multiple details in a story critical of him published last month by Philly Voice but did not dismiss the story outright, acknowledging that he could have been a better teammate as he navigated a trying year professionally.
It was pretty much a foregone conclusion that Foles would be gone following the playoff loss, but that doesn't mean the team wants to play against him twice a year.
Carson Wentz was about to enter prayer when he was labeled selfish and not a team player. All that for someone who most likely will be the backup quarterback, barring another Wentz injury. Fast forward to now, and Foles' trade value is rumored to be even lower.
Chris Cwik is a writer for Yahoo Sports.