ST. LOUIS -- Considering the fact that Nick Foles has yet to take so much as a snap in a game for the St. Louis Rams, it's reasonable to wonder why the team was in such a hurry to sign him to the two-year contract extension he struck with the team Friday night.
While that's certainly a valid question, the structure of the contract offers much better insight into why the Rams and Foles came to an agreement more than a month before his first game as the team's quarterback.
The two-year extension is worth $24.5 million and could keep Foles with the Rams through the 2017 season for a little less than $14 million guaranteed. Adding those two years to the one left on Foles' rookie contract brings his next three years to a total value of $26 million. In essence, the Rams get a starting quarterback for around $8 million annually (though we don't yet know how the money will break down or if Foles' 2015 cap number will change).
It's a deal that, despite the many unknowns about Foles' performance and fit in the Rams' offense, looks to be logical for both parties.
For the Rams, the commitment is longer than the one year Foles previously had on his deal, but it's not so long that they can't change course if Foles struggles. And the money is reasonable enough that even if the team parts with Foles sooner than later, the Rams won't feel a major cap crunch.
It's also a boon for a Rams team that, before signing Foles, had 17 players scheduled to be unrestricted free agents after the season. The more of that business the Rams can get done in short order, the easier a potentially busy offseason should be.
"We've been discussing it for quite some time now and I'm just really glad we were able to get it done," coach Jeff Fisher said. "So yeah, it gives peace of mind and now we've got to go. We've got a guy that we're counting on, that we're trusting, that we think can do it.
"It's his baby now, this is his team, so we've got to go win games."
For Foles, the deal might not offer much long-term security, but it still represents a major upgrade from the one year and $1.542 million he had coming to him in 2015. Coming off a collarbone injury that cost him half the 2014 season, Foles wasn't negotiating from a position of power but still landed nearly $14 million in guaranteed money.
But the best part for Foles is that, at just 26, he could play well and be just 29 when he gets another bite at the contract apple. If he meets the standards set in the contract with his performance, he could theoretically even opt out of the final year of his deal and get to the next contract sooner. Presumably, if he plays well enough to void that final season, he'd be in line for a massive extension that would keep him with the Rams much longer.
In the weeks leading up to the extension, Foles maintained that he wasn't concerned with getting a contract done before the season. He also acknowledged that he had seen enough of the Rams and St. Louis to know he wants to stick around. Now he can.
"It was just one of those things where it just happened, it’s not like a surprise thing," Foles said. "The trade happens, that was a surprising thing, then you get into those kind of [contract] talks and I want to be here. Now it’s like a family and it’s a place I want to be. And they wanted me here as well, so it worked out for both parties."
