The Philadelphia Eagles have agreed to trade Carson Wentz to the Indianapolis Colts, according to a person familiar with the deal.
The Eagles will receive a third-round pick in this year’s NFL Draft and a conditional second-round pick in 2022 that can turn into a first-round pick if Wentz plays 75% of the snaps this year or 70% and the Colts make the playoffs.
The person spoke to The Associated Press on condition of anonymity because the deal hasn’t been announced.
Philadelphia now owns the 85th overall pick in the 2021 draft. The Eagles will take a $34 million dead cap hit upon the trade, the largest in NFL history. Indianapolis will pay out the rest of a $128 million extension signed in June 2019, according to ESPN’s Adam Schefter.
Wentz is coming off the worst season of his five-year career. He finished third in NFL MVP voting in 2017 when he led the Eagles to an 11-2 record before a knee injury ended his season and Philadelphia went on to win its only Super Bowl title.
This past season, the quarterback completed 57% of his passes for 2,620 yards, 16 touchdowns and 15 interceptions before he was replaced by 2020 second-round pick Jalen Hurts. The rookie started the final four games of the year.
With the Colts, Wentz presumes to be the No. 1 quarterback after last year’s starter, Philip Rivers, retired following his single season on the team.