Nick Foles Released by Colts; IND Drafted Anthony Richardson, Signed Gardner Minshew

Anthony Richardson and Gardner Minshew are the quarterbacks of the future in Indianapolis.

The Colts released veteran quarterback Nick Foles on Friday, per ESPN's Adam Schefter.

Foles played in three games and made two starts for the Colts in 2022, but Indianapolis is dropping the second half of his two-year contract. It is likely that Minshew, a former backup to Philadelphia's Jalen Hurts, or Richardson, this year's fourth overall draft pick, will be the team's starting quarterback next season.

This is not the first time Foles has been released since leading the Philadelphia Eagles to a Super Bowl win in 2017.

The Jacksonville Jaguars traded Foles one season after signing him to a four-year contract in 2018. Foles' three rough starts with the team lost him the starting job to Minshew, then also a Jaguar.

Foles was traded to the Chicago Bears. He made seven starts in 2020, but just one in 2021 after the Bears turned to Andy Dalton and Justin Fields instead. The Bears reportedly were not able to find a trade option and released him in April 2022.

One month later, the Colts signed Foles to a two-year, $2.5 million deal to back up Matt Ryan. Foles made two starts, completed 25 of 42 passes, threw no touchdowns and four interceptions in 2022.

Given the signing of Minshew, drafting of Richardson as well as the return of Sam Ehlinger, who finished out the 2022 season as the Colts starter, the Colts decided to move on.

Foles has been in the NFL for nine seasons, five of them with the Eagles. The third-rounder out of Arizona was named to the 2013 Pro Bowl after putting up the best touchdown-to-interception ratio in league history, but the Texan is best known for becoming the MVP of Super Bowl LII after playing most of the 2017 season as a backup.

After coming in for an injured Carson Wentz in Week 15, Foles led the Eagles to the Super Bowl, then became the third quarterback in history to catch a touchdown pass in the big game. The Eagles won, 41-33, and Foles became a Philadelphia hero.

Foles will now enter the 2023 free-agency market and could be considered by teams looking for a veteran backup.