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, National Football League sources said.
Basically, the Eagles are rewarding Foles after he helped the franchise win its first-ever Super Bowl a few months ago.
Foles was due to make $7 million this season.
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There had been speculation after the Eagles won the Super Bowl the team would listen to offers for Foles, trying to maximize on his trade potential. His new contract will include a signing bonus, performance incentives, and a mutual option for 2019.
Most of the terms are now unavailable, but according to the report, Foles will get a $2 million signing bonus on top of what was supposed to be a $4 base salary in 2018.
The reworked contract does not reflect any change in the status of starter Carson Wentz, who is working his way back from a torn ACL injury he suffered in Week 13. "I know my spot in Philly".
However, knowing the value he brings to the team as a backup, Philadelphia reportedly set a high price for the 29-year-old signal-caller on the trade block, and no team has been willing to meet the asking price, at least not yet. I'll be ready to go whenever they need me.