PHILADELPHIA (CBS) -- It appears Philadelphia Eagles quarterback Nick Foles is heading south for free agency. According to NFL Network's Ian Rapoport, the former Super Bowl MVP has signed with the Jacksonville Jaguars.
The deal is reportedly a four-year pact worth $88 million. ESPN's Adam Schefter is reporting that Foles' deal is worth $50.125 million guaranteed.
The deal will become official when free agency begins on Wednesday.
Last month, the Eagles announced they were not placing the franchise tag on Foles, allowing him to become a free agent. The NFL free agency period begins March 13.
"We made this decision as an organization and we feel very comfortable about it," Howie Roseman, executive vice president of football operations, said last week. "Hard decision because it was someone who means a lot to us professionally and personally, but at the end of the day, as an organization, we felt like it was the right thing to do."
Foles will be reunited with John DeFelippo, who was the quarterbacks coach for the Eagles in 2017. DeFelippo is now the Jaguars offensive coordinator.
Foles could replace former first-round draft pick Blake Bortles as the Jaguars starting quarterback.
Foles, who was drafted by the Eagles in the third round of the 2012 draft, will forever be a legend in Philadelphia, leading the Birds to their first Super Bowl championship in franchise history after Carson Wentz went down during the 2017 season. Foles was named the MVP of Super Bowl 52 after throwing for 373 yards and three touchdowns — and also catching a TD pass in the iconic "Philly Special" play — in the Eagles' 41-33 win over the Patriots.
Foles had one more magical run in 2018, leading the Eagles to the playoffs after Wentz got hurt again, this time with a back injury. The Eagles ended up losing to the New Orleans Saints in the divisional round.
Over five seasons with the Eagles, Foles threw for 8,703 yards and 58 touchdowns during the regular season, with a 21-11 record. During the postseason, Foles racked up 11 touchdowns and 1,633 passing yards over six games, with a 4-2 record.
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