The 28-year-old spent 2016 with the Kansas City Chiefs as Alex Smith's backup and performed well in limited action. Foles started one game and appeared in three, throwing for 410 yards, three touchdowns and zero interceptions.
Foles' greatest success came in 2013 with the Eagles when he threw for 2,891 yards, 27 touchdowns and just two interceptions in 10 starts en route to his first and only Pro Bowl nod.
He was traded to the then-St. Louis Rams just two seasons later, but he floundered in 11 starts during the 2015 campaign with seven touchdowns and 10 interceptions.
Foles fared much better for the Chiefs in a lesser role, but they decided to move on from him by declining his option, which freed up $6.75 million in salary-cap space.
While Foles' resume as a starter leaves a lot to be desired with the exception of 2013, he is a quarterback who can be trusted in a pinch.
His career record of 20-16 is solid, and the fact that he once led Philadelphia to the playoffs is an accomplishment that most other quarterbacks on the open market don't possess.
The former third-round pick out of Arizona can win games when called upon in the right situation, which makes him an ideal option as a backup.
Foles' struggles with the Eagles in 2014 came after they parted ways with his favorite target in DeSean Jackson, and he had little to speak of in terms of quality targets with the Rams.
ESPN's Adam Schefter first noted this could mean the end of Chase Daniel's time in Philadelphia. ESPN's Adam Caplan, citing a source, reported Daniel has asked to be released, which is expected to happen on Monday. Daniel signed a three-year contract last offseason, which made him the NFL's highest-paid backup quarterback. The Eagles moved on from any plans of keeping Daniel as their long-term starter when they moved up to draft Carson Wentz.
There is still a chance Foles could emerge as a starter once again at some point, but until then, he is among the best quarterback contingency plans in the league.