The Designation Game
The Eagles could still place a franchise or transition tag on Foles before the 15-day designation period ended on March 5 provided he buys out the option years. The NFL's preliminary projections of a 2019 salary cap between $187 million and $191.1 million would put the quarterback transition number in the $22.638 million to $23.134 million range. The franchise number with these projections would be between $24.706 million and $25.248 million.
The transition tag would only provide the Eagles a right to match an offer sheet from another team. There wouldn't be any draft choice compensation, like with the non-exclusive franchise tag, if the Eagles didn't exercise their matching rights. The Eagles would likely rescind a transition tag with a high degree of certainty that an unpalatable offer sheet was forthcoming, just like the Dolphinsdid with edge rusher Olivier Vernon in 2016. Foles would become an unrestricted free agent where the Eagles would get a compensatory draft pick in 2020, presumably the maximum in the third round, by him signing with another team.
Giving Foles a non-exclusive franchise tag would be just to trade him although there is specific language in the NFL Collective Bargaining Agreement requiring a good faith intention to negotiate with a tendered player or keep him for the upcoming season at his tender. This type of language was a part of the labor agreement in existence in 2009 when the Patriots put a franchise tag on quarterback Matt Cassel. It was obvious New England wasn't going to pay Cassel $14.651 million to be Tom Brady's backup after he recovered from the torn ACL that sidelined him for practically all of the 2008 season. The NFL allowed the Patriots to trade Cassel and linebacker Mike Vrabel (now Titans head coach) to the Chiefs for a 2009 second round pick (34th overall).
The bigger concern for the Eagles would be Foles quickly signing his franchise tender since it's fully guaranteed when accepted. Doing so could effectively kill any potential trade market where the Eagles run the risk of paying Foles an exorbitant amount to back up Wentz again. Finding a team willing to take Foles for approximately $25 million next season without assurances that he would sign a long-term contract to prevent him from being an expensive one-year rental would be a difficult task.
It would be cost prohibitive for the Eagles to have Foles on a franchise tag for the 2019 season. Philadelphia has the NFL's most 2019 cap commitments at $212,636,950 using offseason cap accounting rules where top 51 cap numbers matter according to NFLPA data. This includes Foles' $20.6 million cap number with the option exercised. There's $6.101 million of cap room that can be carried over to the upcoming league year, which isn't nearly enough for the Eagles to get under the 2019 salary cap, which is projected to be in the $190 million neighborhood.
Philadelphia finding a way to carry Foles at his franchise number would create an awkward financial situation. Foles would be making over six times as much as Wentz to back him up. Wentz's 2019 salary is a little under $4.1 million.
IMO, O-line should be a top priority. Lane Johnson was the last OT taken in the top 4 rounds. Is Peters retiring? He's certainly become unreliable due to injury and a loss of quickness.
