Updated: Tuesday, 10:32 p.m.
Complete coverage of the Philadelphia Eagles and their NFL rivals from NBC Sports Philadelphia.
Nick Foles will void his $20 million option, a league source confirmed Tuesday to NBC Sports Philadelphia's Dave Zangaro. The news was first reported by ESPN's Adam Schefter.
ESPN's Tim McManus reported earlier Tuesday night that the team notified Foles they would exercise his 2019 option.
While this isn't really surprising, it's definitely interesting.
Foles will need to give the Eagles $2 million in order to void his option. The Eagles could still use the franchise tag on Foles and then trade him.
If they don't franchise him, Foles would become an unrestricted free agent in March, free to negotiate a new deal with any team, with the Eagles receiving compensation in the form of a third-round pick in the 2020 draft.
This limits Foles' options because even if the Eagles take Foles' wishes into consideration, which Howie Roseman has indicated he'll do, it's hard to imagine them shipping him within the NFC East to QB-starved teams like the Redskins or Giants.
Click here to download the MyTeams App by NBC Sports! Receive comprehensive coverage of your teams and stream the Flyers, Sixers and Phillies games easily on your device.