The first step in what is going to be a delicate dance between the Eagles and quarterback Nick Foles this offseason has reportedly been decided -- and the team's plan for Foles might have just been revealed as well.
According to an NFL Network report, the Eagles plan on picking up the $20 million option on Foles' contract. The decision means the Eagles are, at least on paper, willing to have Foles on the roster next season at the $20 million price tag. On top of that report, ESPN is reporting that the Eagles will indeed franchise Foles if needed in an attempt to trade him.
The price tag? A third-round pick.
If the Eagles do indeed pick up Foles' option, as the report suggests, the quarterback then has five days to decide if he wants to pick up his end of the option. The report did not say if the team has informed Foles of their decision, which means the five-day clock has likely not yet started. If he doesn't pick up his end of the option, Foles has to pay the Eagles $2 million back to become a free agent.
Many expect Foles to do just that, allowing him to hit the free agency market and find a new team.
If Foles surprises many and decides to agree to the $20 million salary, the Eagles could in theory cut Foles five days into the new league year (March 18th) and not have any dead money on their cap. That would be an extremely appealing option to the Eagles, as it would allow them five days to try to trade him. That would be tough under the salary cap, however, as the Eagles would need to have $20 million in salary cap space for him on the first day of the league new year (March 13th) — which might be tough since they are currently $8 million over the cap. The Eagles would likely have to be sure they had a trade worked out and could execute it right away if they decided to keep Foles on their books into the new year.
EAGLES: SALARY CAP SPACE UPDATE
Assuming Foles buys his way into free agency, however, the Eagles would then have to decide if they want to place the franchise tag on Foles, a decision they would have to make by March 5th. If the Eagles did that, Foles would count around $25 million on their salary cap, but he could be traded.
The tough part of trading Foles is going to be fitting him under the salary cap, as mentioned above. If the Eagles do indeed plan on franching Foles, however, that means they plan on carrying him into the new league year -- and plenty of players are going to be either released or take paycuts to make it happen.
You can reach Eliot Shorr-Parks on Twitter at @EliotShorrParks or email him at esp@94wip.com!
