Chuck Cook-USA TODAY Sports

The Jacksonville Jaguars will reportedly sign veteran quarterback Nick Foles to a four-year, $88 million contract once free agency opens up on Wednesday.

According to multiple media reports, the deal includes $50.12 million guaranteed and could reach $102 million with incentives. Foles will haul in an absurd $46.63 million over the first two years of the contract.

It goes without saying that market dynamic played a role in this excessive contract. Foles was pretty much the only starter-caliber quarterback on the market.

Add in inflation under an increased salary cap and supply/demand, and the Jags had to pay out of their back end to acquire an upgrade over the soon-to-be released Blake Bortles.

This is just the latest example of teams needing to push all of their cards into the pot when it comes to adding a quarterback in the NFL Draft. Here’s why.

It’s a risky signing: Foles’ body of work is questionable.

  • Foles was tremendous in two seasons as a spot starter for the Eagles. He posted a 10-3 record, postseason included. That included 21 touchdowns and 11 interceptions.
  • Outside of that, and his incredible season with Chip Kelly, Foles’ body of work leaves a lot to be desired. He’s thrown 10 touchdowns and 10 interceptions in 13 career starts between the Chiefs and Rams.
  • Is Foles more of a product of the Eagles’ system than anything else? Time will tell on that front.

The contract is damning: Said details are simply eye-opening.

  • Foles’ average salary of $22 million places him 11th among quarterbacks in the NFL. That’s not an incredibly bad deal.
  • Unfortunately, the devil is in the details here. He’s now right behind Cam Newton and Russell Wilson in total guarantees. Foles has started a grand total of 44 regular-season games in seven years.
  • If Foles were to reach his incentives, this would make him the fourth highest-paid quarterback in terms of total value — behind Aaron Rodgers, Derek Carr and Andrew Luck.

Quarterback purgatory: Rinse, wash, repeat.

  • While not as bad as the Redskins’ situation, this speaks of quarterback purgatory. Outside of a fluke performance back in 2013, Foles has thrown 41 career touchdowns compared to 31 interceptions.
  • Foles also boasts a relatively mediocre 26-18 record as a starting quarterback in the NFL. At 30 years old, his ceiling just isn’t that high.

Eliminates quarterback in draft: Is that a long-term solution?

  • Picking seventh overall, Jacksonville had an opportunity to potentially land a franchise-altering quarterback in that of Kyler Murray or Dwayne Haskins.
  • The Jags have two third-round picks. This made it possible for the team to trade up for the quarterback of its choosing.
  • Instead, it seems Jacksonville went the same route we saw with the Redskins and Alex Smith last March. How exactly did that work out in the nation’s capital?
Vincent Frank
Editor here at Sportsnaut. Contributor at Forbes. Previous bylines include Bleacher Report, Yahoo!, SB Nation. Heard on ESPN Radio and NBC Sports Radio. Northern California native living it up in Las Vegas. The Keto lifestyle. Traveler. Reader. TV watcher. Dog daddy. Sam Malone = greatest TV character ever. "Carpe diem. Seize the day, boys. Make your lives extraordinary," John Keating.