According to the NFL Network’s Mike Garafolo, the Chicago Bears are going to release veteran quarterback Nick Foles.
The Bears have been looking to trade the 33-year old QB this offseason, but instead of continuing to pursue a deal, general manager Ryan Poles decided to allow Foles to pick his next destination as a free agent. Chicago will save $3 million in cap space this year with the move, and they will incur about a $7.6 million dead cap hit.
Garafolo confirmed the report with Foles’ agent Justin Schulman, and Schulman said that, “Ryan Poles did the classy thing and Nick appreciates it.