Report: Ex-Bears QB Foles agrees to two-year contract with Colts originally appeared on NBC Sports Chicago
Nick Foles has found his new NFL home, and it's exactly where we expected.
Foles, who was released by the Bears last month, has agreed to a two-year contract to join the Indianapolis Colts, NFL Media's Mike Garafolo reported Monday.
Per Pro Football Focus' Brad Spielberger, Foles will earn $2.5 million this season and the Bears will receive $1 million credit for Foles' $1 million salary which lowers his dead-cap hit.
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Foles and Colts head coach Frank Reich have a connection. Reich was the offensive coordinator in Philadelphia when Foles led the Eagles to a Super Bowl LII title in 2017.
Since winning Super Bowl MVP, Foles has played for the Jaguars and Bears.
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The Bears acquired Foles from the Jaguars for a fourth-round pick before the 2020 season.
After starting seven games for the Bears in 2020, Foles saw action in only one game last season, throwing for 250 yards and one touchdown in a win over the Seattle Seahawks.
Foles will serve as the backup to Matt Ryan in Indianapolis.
Meanwhile, the Bears signed Trevor Siemian to back up second-year quarterback Justin Fields.
