Kansas City Chiefs give Nick Foles one-year deal with team option
News of Nick Foles signing with the Kansas City Chiefs emerged late Wednesday night, and terms of the contract have now been reported.
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Upon being released last week by the Los Angeles Rams, Nick Foles immediately became the best veteran quarterback available. Rumors attached him to a few teams right away, with the Dallas Cowboys perhaps moving toward the front of the line with Kellen Moore’s injury, but Foles ultimately landed with the Kansas City Chiefs.
Chiefs head coach Andy Reid was the Philadelphia Eagles’ head coach when that team drafted Foles in 2012, and when added to the inexperience Kansas City has behind Alex Smith there was a clear fit.
A one or two-year deal seemed likely for Foles with Kansas City, and he’ll make $1.75 million plus incentives this season. But the interesting part of the contract is the second-year team option, with details coming from ESPN’s Adam Schefter.
Chiefs giving Nick Foles $1.75M this year, plus incentives. Team option for 2nd year, which ranges bw $6.75-$16M based on 2016 performance.
— Adam Schefter (@AdamSchefter) August 4, 2016
The financial range of the team option, as Schefter cited, is tied to Foles’ performance this year. Ideally Smith will play all 16 games and play well, but if Foles is pressed into action the Chiefs have the option to keep him around in 2017.
Smith did nothing in 2016 to invite competition for the starting job, with a typically efficient season (65.3 percent completions, 20 touchdowns and seven interceptions) while leading the Chiefs to a playoff berth. Add that to his durability (15 or more games in three straight seasons) and contract status (three years, $39.4 million in base salary remaining), and Smith has serious job security.
The contracts Brock Osweiler and Sam Bradford signed this off-season prove the financial market for quarterbacks is overly inflated. The $16 million Foles could make from the Chiefs in 2017 is further evidence, though I wouldn’t bet on him reaching all the possible triggers for that full amount and if he does the Chiefs should easily let him go.
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