Bears getting QB Nick Foles with restructured contract

The Chicago Bears found an experienced veteran quarterback to compete with Mitchell Trubisky in former Super Bowl MVP Nick Foles.

Last offseason, Foles signed a four-year, $88 million contract with the Jacksonville Jaguars. Foles started in just four games for the Jaguars — due to injury and eventually losing his job to sixth-round rookie Gardner Minshew — and now he finds himself in Chicago, where he’ll presumably have to compete with Trubisky for the starting job.

Many wondered why the Bears sent a fourth-round pick to the Jaguars if they were left to take on Foles’ massive contract. Turns out, the Bears will be getting Foles with a restructured deal, which explains the draft compensation.

Nick Foles to the #Bears, as @AdamSchefter said. There will be a restructured contract to make the trade happen. Fourth-round pick.

— Mike Garafolo (@MikeGarafolo) March 18, 2020

ESPN’s Adam Schefter reported that Foles has already restructured his contract with the Bears, which includes three more years and $21 million in guaranteed money.

Foles also re-worked his contract so that could void the deal with the Bears after either of the first two seasons.

Nick Foles already has restructred his contract with the Bears, per source. He still has three years left, still has $21 million guaranteed left, but Foles now has the ability to void the deal after either of the first two years depending on his performance. Deal includes upside.

— Adam Schefter (@AdamSchefter) March 18, 2020

There’s a lot to be gained by the Bears trading for Foles. But there’s just as much at stake for everyone involved.