According to the reports, the new deal gives a signing bonus, and more incentives based on playing time and other benchmarks for the upcoming season. The option year is being phrased as a "mutual" one, per one source, to which both sides would have to agree.
The Arizona product is set to go back to the bench this season when Carson Wentz returns from a torn ACL and LCL.
The Eagles obviously have a soft spot for Foles, and they should, after he was one of the main reasons the team went all the way in 2017.
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Foles threw for 971 yards and six touchdowns in the three wins including a 373-yard, three-touchdown performance in the Super Bowl, and those strong showings prompted trade rumours earlier in the offseason. A mutual option keep open the possibility that Foles would stay with the Eagles beyond '18, though that seems unlikely at this point.
Because the quarterback class of 2019 is not believed to be as deep as this year, Foles could be a major puzzle piece this offseason for a team looking to make a change under center.
"We love Philly. I know there was some stuff going around [about] a possible trade, and I would love the opportunity to be a starter again", Foles said.
The Philadelphia Eagles reconstructed Foles' contract.