Per NFL Network's Ian Rapoport, Foles' contract is "extremely difficult" to trade because he's guaranteed $4 million this season and $5 million in 2022.
The Bears began the offseason by signing Andy Dalton to a one-year deal worth $10 million. He was pegged as the starting quarterback by general manager Ryan Pace.
"He's a 9-year starter," Pace told reporters on April 2. "He's been to three Pro Bowls. We feel like we've gotten better with Andy."
Chicago made a big move during the first round of the 2021 NFL draft, acquiring the No. 11 overall pick from the New York Giants to select Justin Fields.
The Bears view Fields as their long-term starting quarterback, but Pace reiterated on Thursday night that Dalton is still going to lead the offense in 2021.
"Matt [Nagy] has spoken to Andy Dalton tonight; that communication and clarity for us is really important," Pace told reporters. "Andy is our starter, and we're gonna have a really good plan in place to develop Justin and do what's best for our organization and win games."
Chicago acquired Foles in a March 2020 trade with the Jacksonville Jaguars. He's got a $6.7 million cap hit this season and a $10.7 million cap hit in 2022. The former Pro Bowler threw for 1,852 yards with 10 touchdowns and eight interceptions in nine appearances last season.