Instant analysis of Colts signing QB Nick Foles

The Indianapolis Colts agreed to a two-year deal with veteran free-agent quarterback Nick Foles, according to reports Monday, May 23.

Foles arrives just in time for the start of organized team activities (OTAs), which are set to begin Tuesday. His relationship and history with Frank Reich are well known, making his transition relatively seamless on the field.

Here’s a quick look at our instant analysis of the signing:

How this helps the Colts

The Colts desperately needed a veteran backup quarterback behind Matt Ryan.

The quarterback room behind Ryan currently consists of Sam Ehlinger, James Morgan and Jack Coan. Ehlinger was a sixth-round pick in 2021, Morgan was a fourth-round pick in 2019, and Coan signed with the Colts as an undrafted rookie free agent following the 2022 NFL draft.

Between those three, they have played a whopping 18 snaps in the NFL, all of which belong to Ehligner.

Foles’ magic may have been limited to that 2017 Super Bowl run, but he’s a quality backup and understands Frank Reich’s scheme more than most quarterbacks.

While Ryan has been an ironman throughout his career, the Colts don’t have to worry about the offense going completely underwater if something were to happen.

Impact on the depth chart

This move is pretty cut and dry. Foles is being brought in to be the backup behind Ryan. While the team certainly loves Ehlinger, and they love talking about him, he’s probably not ready to be a full-time backup quarterback.

Instead, Foles steps in right away with previous knowledge of the scheme and the experience of being a backup quarterback for the better part of the last five seasons. The fact that it’s a two-year deal furthers the notion that there won’t be much of a competition behind Matt Ryan for the backup gig.

Quick grade of the signing

Signing Foles is more for insurance than it is to boost the offense in a dramatic way. With Foles under contract, the Colts can sleep a little easier knowing he can at least keep the offense afloat.

Foles isn’t a game-changing quarterback who will vault the Colts into Super Bowl discussions. His magical run was probably limited to 2017. That’s okay. The Colts don’t need him to be that. They just need him to be a competent backup quarterback.

Because he’s certainly capable of doing so, this is a pretty solid move for a team that desperately needed another veteran in the quarterback room.

Grade: B

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