The Indianapolis Colts released quarterback Nick Foles, the team announced Friday.
A long-anticipated move, it’s a surprise the transaction took until the beginning of May. However, the Colts brought in a 12-player draft class and 15 undrafted rookie free agents this offseason.
In releasing Foles, the Colts will save $2.1 million in salary-cap space while taking on a $1.5 million dead-cap hit for the 2023 season.
Foles joined the Colts roster during the 2022 offseason when Frank Reich was still the head coach. He served as the third quarterback behind Matt Ryan and Sam Ehlinger during the regular season.
Foles made two starts, including Week 17 against the New York Giants, which resulted in him leaving the game early due to a ribs injury he suffered after taking a sack from Kayvon Thibodeaux.
With No. 4 overall pick Anthony Richardson and free-agent addition Gardner Minshew leading the quarterback room in Shane Steichen’s offense, this move was long overdue.