REPORT: Jaguars trade Nick Foles to Chicago

Jacksonville Jaguars quarterback Nick Foles walks along the bench area as he looks up at the scoreboard during the first half of an NFL football game against the Los Angeles Chargers, Sunday, Dec. 8, 2019, in Jacksonville, Fla. (AP Photo/Stephen B. Morton)

***UPDATE on Wednesday at 1:52 PM****
ESPN's Adam Schefter is reporting Nick Foles "has already restructured his contract with the Bears, per source. he still ha three years left, still has $21 million guaranteed left, but Foles now has the ability to void the deal after either of the first two years depending on his performance. Deal includes upside."

The Chicago Bears have a new quarterback. ESPN’s Adam Schefter is reporting the Jacksonville Jaguars are trading quarterback Nick Foles to the Chicago Bears for a fourth-round compensatory pick.

Foles, 30, was broke his collarbone in week one of the 2019 season. While he was injured, Gardener Minshew II filled in and went 6-8.

Minshew II threw for 3,271 yards, 21 touchdowns and six interceptions in 14 games. Foles signed a four-year, $88 million contract with the Jaguars on March 13, 2019.

Foles returned in week 11 last season and played in just three games. He finished with a 84.6 QB rating. Foles will not likely be giving the starting position from the start. He will likely battle for the position against current Bears quarterback Mitchell Trubisky.

Trubisky is 23-18 in three seasons in Chicago with an 85.8 QB rating. The Bears finished with an 8-8 record and did not make the playoffs last season.