The Philadelphia Eagles joined the hectic NFL offseason on Thursday afternoon, completing one of the most significant trades expected this spring. After weeks of speculation, the NFC East organization finally dealt Carson Wentz to the Indianapolis Colts where the 27-year-old quarterback will re-unite with his former head coach, Frank Reich.
In return, the Eagles received draft compensation, in the form of a third-round pick in this April’s draft and a conditional second-round pick in 2022. That selection will turn into a first round pick if Wentz starts 75 percent of the Colts’ games in 2021 or 70 percent and Indianapolis makes the playoffs.
Although the Eagles collected a solid haul for their former franchise quarterback, they’ll also take on a massive cap hit. In fact, a historic one.
Philadelphia will face the largest dead money cap hit in NFL history after trading Wentz on Thursday. The anticipated “dead” cash will total $33.8 million.
Eagles now take on the largest dead money cap hit in NFL history by trading Carson Wentz: $33.8 million.
— Art Stapleton (@art_stapleton) February 18, 2021
The Eagles found themselves in a difficult situation with their former No. 2 overall pick after a tumultuous 2020 campaign. After a dismal performance, Wentz requested a trade, leaving the Philadelphia front office without much choice. The Eagles felt strongly enough that the 27-year-old’s time with the organization was done and executed a trade that did its best to satisfy both parties.
With the draft picks, Philadelphia will be pleased to get something to lessen the blow of the massive cap hit. Although the compensation is far from the once rumored two first rounders, the selections can be used to help re-tool a new look Eagles squad.
For Wentz, the situation is ideal. The 2017 Pro Bowler will once again join forces with Reich, with whom he had his best season in his second-year in the league. Combined with a reliable offensive line and a stout defense, Wentz might turn the Colts into a postseason contender, as long as he stay healthy.
The next step for the Eagles will be to settle their quarterback situation. Philadelphia could choose to go back to the well with Jalen Hurts or set their sights on a rookie with the No. 6 overall pick in the 2021 NFL Draft.
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