Details of Nick Foles' contract released

Penny Traitor

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Looks like only eight million a year base salary, which brings Foles down to "premium back-up" price range and a flat-out steal if he starts at QB for the next three years. From the link above:

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.
 
Leon Sandcastle

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Fuck that. I say panic! Between the Corona Virus, a freaking earthquake here in Idaho yesterday, and the damn Bears cap space....
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JoJoBoxer

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Leon Sandcastle said:
Fuck that. I say panic! Between the Corona Virus, a freaking earthquake here in Idaho yesterday, and the damn Bears cap space....
giphy.gif
Click to expand...
Those are some of the sign of the End of Times, and I quote:

"The End is nigh
when the orange guy
tries to trump
the Ursa bump
with Vaca pee
as potatoes flee
their earthly graves
whilst I, the Ho, craves
a president, not a Fole
,nor crook, nor a-hole"

This was written thousands of years ago, yet it mentions the 'orange guy' then uses trump as a form of outmaneuver (or con). Then it talks of the Ursa bump which is a reference to the Bears' cap space situation. Vaca is Spanish for cow, so cow piss leads to corona beer, a tie in to the corona virus. Potatoes fleeing their earthly graves talks about the earthquake in Idaho (I, the ho). It finally comes full circle where a real American president is needed, not some Fole (old english for fool/moron), crook and asshole.
 
vabearsfan15

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This isn't a normal 3 year deal though as their is a clause in the contract that states Foles can void 2021 and 2022 if he plays well enough.

He is basically only getting 3 mil more than we were paying Chase Daniels last year, which to me is a steal. At the same time the lower price tag means the staff won't force him out on the field simply to justify the price that they are paying him. Instead the staff may be more inclined to ride Mitch for a majority of the season to see if he puts it together in a contract year. If Mitch flops, then the staff knows they have Foles locked in for 2021 at 8 mil
 
Leon Sandcastle

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JoJoBoxer said:
Those are some of the sign of the End of Times, and I quote:

"The End is nigh
when the orange guy
tries to trump
the Ursa bump
with Vaca pee
as potatoes flee
their earthly graves
whilst I, the Ho, craves
a president, not a Fole
,nor crook, nor a-hole"

This was written thousands of years ago, yet it mentions the 'orange guy' then uses trump as a form of outmaneuver (or con). Then it talks of the Ursa bump which is a reference to the Bears' cap space situation. Vaca is Spanish for cow, so cow piss leads to corona beer, a tie in to the corona virus. Potatoes fleeing their earthly graves talks about the earthquake in Idaho (I, the ho). It finally comes full circle where a real American president is needed, not some Fole (old english for fool/moron), crook and asshole.
Click to expand...
giphy.gif
 
HearshotKDS

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So either i'm reading this wrong, or this confirms there was no additional cap taken on by JAX before the trade. There goes the "4th round pick was thrown in for JAX to eat more of his salary" rumor.
 
Leon Sandcastle

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HearshotKDS said:
So either i'm reading this wrong, or this confirms there was no additional cap taken on by JAX before the trade. There goes the "4th round pick was thrown in for JAX to eat more of his salary" rumor.
Click to expand...
Umm. Weve always known that. Or atleast i thought we did
 
remydat

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HearshotKDS said:
So either i'm reading this wrong, or this confirms there was no additional cap taken on by JAX before the trade. There goes the "4th round pick was thrown in for JAX to eat more of his salary" rumor.
Click to expand...

Yes but in reading this again, it is actually better for both parties than I originally thought. The initial time remaining on the contract was 3 years with the following cap hits.

2020 - $15.625
2021 - $20.625
2021 - $20.750

Of the above $15.25m was guaranteed in 2020 and $5m in 2021 for total of $20.25m. So basically a one year contract where we could dump Foles if he sucked and if he was great we got him for 2 more years at reasonable starting salary amounts.

So initially with the restructure it seemed we were just moving cap space around but the structure of the deal was largely the same except that if Foles excelled he could void the deal and thus it had no upside for us. That is what made it seem terrible as we basically traded upside for salary cap allocation with the overall numbers being seemingly intact.

Now in reading it again it seems they got rid of virtually all the non-guaranteed money converting it into a backup contract. So it seems like it works like this now.

2020 - $8 million
2021 - $8 million
2022 - $8 million.

Basically most of the non-guaranteed money is gone. Foles basically has his 2020, 2021 and $4.25 million of his 2022 salary guaranteed to get to the same $20.25 million guaranteed. So if he is nothing more than a backup then he stays with the team as a good backup for 3 years as he never hits the triggers to void the deal. If he ends up being the starter he can earn 6 million of incentives which I presume would be if he starts and excels in 2020 after which it would only be fair for him to void the deal and be a free agent to negotiate a starter level deal since it was a backup contract.

Presumably if he does blow up and voids the deal that would also void the 8 million and 4.25 million in guarantees in 2021 and 2022. In addition, if they give Mitch his final chance and he blows, they can draft a young QB in 2021 and Foles can start for that year while the young dude learns and then he would likely void the deal after 2021 and at that point we can move on if the rookie had developed.

If if that is how it works then that is a great deal for both parties and I was wrong as misread the terms.
 
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