The Chicago Bears agreed to release former Super Bowl MVP quarterback Nick Foles after failing to find a trade, his agent told NFL Network on Saturday.
“Ryan Poles did the classy thing and Nick appreciates it,” agent Justin Schulman told NFL Network’s Mike Garafolo.
The team confirmed the decision to ESPN.
During the annual league meetings this past March, Bears general manager Ryan Poles said the team was looking to trade the veteran after Chicago signed former Saints signal-caller Trevor Siemian via free agency to serve as the backup to starter Justin Fields.
Now, Foles will be a free agent, and it will come with a cost. He carried a $10.67 million cap hit in 2022 after appearing in only one game this past season. By cutting Foles now, the Bears take on a $7.66 million dead cap hit, but the team will gain $3 million in cap space, according to Spotrac.
Foles, 33, played 10 games (eight starts) over two seasons in Chicago after being acquired in a trade with Jacksonville. Foles has amassed 14,003 yards and 82 touchdowns in 68 games with five teams, most notably the Philadelphia Eagles with whom he led to a victory in Super Bowl LII.
