The Kansas City Chiefs declined the option on quarterback Nick Foles which makes him a free agent and gives the Chiefs nearly $7 million more in salary cap space, which they very much need.
Chiefs officially declined QB Nick Foles' option so he's a free agent. If the Eagles move Chase Daniel, don't rule out a return to Philly.— Mike Garafolo (@MikeGarafolo) March 9, 2017
It was thought at one point that this would open up more than $10 million in cap space but that was apparently misreported at some point because it’s only $6.75 million, but that’s space the Chiefs can use. I don’t know exactly how much they have this second with so many moving parts but it was believed around a few million in cap space before this.
Foles did his job in Kansas City. He started one game and won after Alex Smith suffered a concussion. That’s what you get a backup quarterback for.
Additionally, Foles could be the gift that keeps on giving. Because the Chiefs declined his option, he will factor into compensatory picks. That means we should all be rooting for someone to pay Nick Foles a lot of money and start him next year That would benefit the Chiefs.
Update: Interesting from Terez ...