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http://profootballtalk.nbcsports.com/2017/03/18/nick-foles-gets-7-million-guaranteed-at-signing/
Nick Foles gets $7 million guaranteed within five days of signing
Posted by Mike Florio on March 18, 2017
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Some may call it a financial apology.
Two years after the Eagles abruptly dumped Nick Foles onto the Rams, and despite a couple of rough seasons in St. Louis and Kansas City, the Eagles have given Foles a solid contract to return as the backup to Carson Wentz.
Per a source with knowledge of the contract, it’s a two-year, $11 million deal, with $7 million guaranteed within five days of signing. The payments come in the form of a $3 million signing bonus, a $1 million fully-guaranteed base salary in 2017, a $3 million roster bonus that becomes fully guaranteed five days after the contract is signed.
The roster bonus makes it more likely that the Eagles will keep Foles in 2018, at a base salary of $4 million. (Then again, they didn’t keep Chase Daniel for the second year of his contract, despite $5 million in guaranteed base salary for 2017.)
The contract also has incentives of up to $2.5 million for 2017 and 2018 based on a variety of factors and a 2018 escalator of up to $6 million based on a various factors.
The deal includes three phony years on the back end, a cap management tool aimed at keeping the number as low as possible in 2017.
Nick Foles gets $7 million guaranteed within five days of signing
Posted by Mike Florio on March 18, 2017
Some may call it a financial apology.
Two years after the Eagles abruptly dumped Nick Foles onto the Rams, and despite a couple of rough seasons in St. Louis and Kansas City, the Eagles have given Foles a solid contract to return as the backup to Carson Wentz.
Per a source with knowledge of the contract, it’s a two-year, $11 million deal, with $7 million guaranteed within five days of signing. The payments come in the form of a $3 million signing bonus, a $1 million fully-guaranteed base salary in 2017, a $3 million roster bonus that becomes fully guaranteed five days after the contract is signed.
The roster bonus makes it more likely that the Eagles will keep Foles in 2018, at a base salary of $4 million. (Then again, they didn’t keep Chase Daniel for the second year of his contract, despite $5 million in guaranteed base salary for 2017.)
The contract also has incentives of up to $2.5 million for 2017 and 2018 based on a variety of factors and a 2018 escalator of up to $6 million based on a various factors.
The deal includes three phony years on the back end, a cap management tool aimed at keeping the number as low as possible in 2017.