The Chicago Bears have a new backup quarterback in town after the signing of Trevor Siemian, who becomes the fourth quarterback on the current roster joining Justin Fields, Nick Foles and Ryan Willis.
Siemian, a seventh-round draft pick by the Denver Broncos in 2015, saw starting time from 2016-17. But since his departure from Denver, he’s served mostly in reserve role during stints with the New York Jets and New Orleans Saints.
Details of Siemian’s contract have emerged, and it certainly appears that he’s being set up to become Fields’ new backup. Siemian gets a two-year deal worth $4 million with a chance to make up to $5 million overall, per NFL Network’s Ian Rapoport.
The #Bears gave backup QB Trevor Siemian a 2-year deal worth $4M, source said, with a chance to make $5M overall considering upside.
— Ian Rapoport (@RapSheet) March 25, 2022
With Siemian’s arrival, the expectation appears to be that the Bears will be looking to deal Foles for any potential trade partner. Foles, who’s entering the final year of his deal, is slated to have a $10.67 million cap hit in 2022.
But it would be difficult for the Bears to release Foles, as it would cost $7.67 million in dead money and free up just $3 million in cap space. It would be cheaper simply to keep him on as a backup to Fields.
But trading Foles would be the best-case scenario. If Chicago could find a partner, trading Foles would free up $8 million in cap space while costing just $2.67 million in dead money by comparison.
