When the Nick Foles contract was announced, many Chicago Bears let out a sign of relief. What was assumed to be a new $16 million cap hit in 2020 was cut in half to $8 million due to the extension that will essentially have $8 million hits over three years.
With the reduction, he went from a salary cap burden that had to get a fair shake at starter, to a quarterback ready to compete to be a starter.
There are plenty of quarterbacks in the price range of Nick Foles, but they are on rookie salary contracts.