Chase Daniel Released by Philadelphia Eagles After Signing Nick Foles

The Philadelphia Eagles announced Monday they released veteran quarterback Chase Daniel.

The team provided a statement from general manager Howie Roseman on Twitter:

The move comes after the Eagles announced they agreed to a deal with Nick Foles.

Last year, Pro Football Focus' Sam Monson ranked the Eagles' decision to sign Daniel for three years and $21 million the ninth-worst move of the NFL offseason. USA Today's Tom Pelissero showed how little return Philadelphia received on the investment:

According to Over the Cap, the Eagles will save $1 million by releasing Daniel, while he'll still count for $7 million in dead cap money.

The Daniel signing was a costly failure for Philadelphia, but Roseman was smart to admit his mistake rather than keep Daniel on the roster to be the third-string quarterback.

Despite the fact he has thrown three passes over the last two years, Daniel may have some interested suitors on the free-agent market. NFL Network's Ian Rapoport reported March 2 a few teams were open to possibly trading for the 30-year-old.

The fact his previous contract is no longer part of the equation would seemingly make Daniel a more attractive addition for teams still hoping to find a backup quarterback.