Carson Wentz is headed to the Indianapolis Colts to play for his former offensive coordinator. The Philadelphia Eagles traded Wentz to the Colts for a 2021 third-round pick and a conditional 2022 second-round pick that could turn into a first-rounder, league sources told ESPN's Chris Mortensen and Adam Schefter. Wentz needs to play at least 75% of the Colts' offensive snaps for the 2022 conditional pick to become a first-round pick.
Wentz will reunite with Colts coach Frank Reich, who was with the Eagles when the quarterback was drafted with the No. 2 overall pick in 2016. Wentz had his best season with Reich as his offensive coordinator in 2017, throwing an Eagles franchise-record 33 touchdown passes. He also ranked first in the NFL with a 78.5 Total QBR. Wentz was benched in 2020, however, as he threw 15 interceptions and was sacked 50 times. Rookie Jalen Hurts took over as the starter down the stretch.
The Eagles will carry a $33.8 million dead-money cap charge for Wentz in 2021. That will be the largest dead-money charge in NFL history, according to ESPN's Dan Graziano. The Colts needed a starting quarterback after Philip Rivers announced his retirement last month.
We asked our panel of ESPN NFL experts to weigh in on the Eagles-Colts trade, whether Hurts is the long-term answer in Philadelphia and where Indianapolis now ranks among the AFC favorites for 2021:
What's your gut reaction to the trade?
Matt Bowen, NFL analyst: This is a deal that could potentially work for both sides. Wentz wanted out of Philly, and the Colts get a quarterback with high-level traits who had his best playing years under Reich with the Eagles.
Dan Graziano, national NFL writer: Feels like the Eagles did all right here for a guy they didn't want anymore and who didn't want to be there anymore and has an onerous contract. Basically, if Wentz is the Colts' starter next year and relatively healthy, the 2022 second-round pick becomes a first-round pick. And the Eagles collect some extra picks in case they want to move up from No. 6 to take a QB this year. Which would be totally on-brand for them, in spite of Hurts already being there.
Eric Karabell, fantasy writer: It's still stunning that it actually came to this, but it seems as if each side gets what it wants/needs, on the field and with public perception. The Colts take a chance on a proven player, and the Eagles get to move on. Each side can justify it.
Jason Reid, The Undefeated senior NFL writer: Although I understand the factors that resulted in the irreparable Wentz-Eagles relationship, I still find it stunning they wound up here. I mean, Wentz, had he not suffered a late, season-ending injury in 2017, appeared headed to potentially winning the NFL MVP award. In 2019, he willed injury-ravaged Philadelphia to the playoffs. Yeah, the relationship had to end. Still, the whole thing is downright dizzying.
Mike Tannenbaum, NFL front-office insider: Philly did a great job of saving about $47 million over the next two years. Beyond the picks, that's where they receive the most value, because $22 million of Wentz's contract would have been guaranteed if he was on the roster after the new league year begins next month.
Seth Walder, sports analytics writer: I'm fairly amazed the Eagles got a team to deal picks for the right to pay Wentz. Indianapolis is committing to a guaranteed $40.4 million for an injury-prone quarterback who played very poorly last season.
Field Yates, NFL analyst: As expected. The Colts long made the most sense for Wentz, reuniting with Reich and giving Indy a quarterback who -- if he can get back to his old self -- can help this team make a deep playoff run.
What's your grade for the trade from the Eagles' perspective?
Bowen: B-minus. The Eagles aren't getting a first-round pick in this deal, but it's close. The 2022 conditional pick could be elevated based on Wentz's playing time, and that's likely to be a quality pick.
Graziano: B-plus. The dead-money cap hit is almost equal to (actually a little less than) what his cap hit would have been if he'd still been on the team. So that's a sunk cost, and he costs them nothing beyond this year. If they were done with him, as they clearly were, this return is better than I thought they could get. Nothing spectacular, but solid.
Karabell: B. The Eagles had to move on, and the fact they are likely to draft the wrong players with those picks, based on recent history, hardly changes the fact they got something of value in return for a player who clearly wanted to be elsewhere.
Reid: B-minus. Look, Wentz was awful last season. And he made it clear he wanted out. Those factors, combined with his massive contract, didn't exactly give the Eagles the high ground in trade talks. Still, they didn't get a first-rounder upfront. Yeah, I get the whole thing about the conditional first-rounder based on the QB's production. However, a potential first-rounder is not a first-rounder in hand.
Tannenbaum: B-plus. They can move forward with Hurts as the starter for 2021, and they add more resources to improve their nucleus around the quarterback.
Walder: A-minus. I don't think Wentz -- tethered with the remaining guaranteed money on his contract -- was an asset. Earning picks to offload it was a strong play. The dead-cap number looks bad, but it was a sunk cost.
Yates: B. There wasn't much more that Philadelphia could do. It's a massive eyesore to look at his dead-cap charge of $33.8 million for 2021, but ultimately a deal had to get done and Philly didn't have a ton of leverage. If the conditions are met for a first-round pick, ultimately this return is adequate.
What's your grade for the trade from the Colts' perspective?
Bowen: B. This grade is still fluid for the Colts. Indianapolis is potentially giving up a late first-rounder (based on the conditional 2022 pick) for a starting quarterback with the traits to play a productive role in this Colts system. It's an intelligent gamble by general manager Chris Ballard.
Graziano: B. The Colts are taking a risk on a guy who suddenly comes with a decent amount of baggage. But Reich and his staff believe in themselves and in their relationships with Wentz, and their track record in Indy gives them the benefit of the doubt. He's not the same kind of solid-veteran answer Rivers was for them a year ago, but if they can tap into his talent, he's got more upside than that move had.
Karabell: B-plus. Wentz is talented and figures to play considerably better with the Colts, surrounded by coaches he respects, and this was already a playoff team, one in need of a quarterback upgrade. They got one for a fair price.
Reid: A. Call me crazy, but I still think Wentz is too talented to have another stinker like he did in 2020. My guess is that the Eagles will wind up receiving a first-rounder from the Colts -- and the Colts will be totally cool with that.
Tannenbaum: A. Wentz is a better fit with the Colts alongside Reich, and it's nearly impossible to find quarterbacks with his ceiling at reasonable costs for the next two years. I also believe he'll do better in Indianapolis, which is closer to his roots in North Dakota.
Walder: C-plus. I won't kill the Colts here because the reasonable question is: What were the alternatives? None of them were great, because Houston isn't going to trade Deshaun Watson inside the division. And there is upside! If Wentz returns to his form from a few seasons ago, they would have a cheap QB contract. That's a reason why signing him to this deal wouldn't be bad if he were a free agent ... but they gave up picks to get that contract.
Yates: A. I'm bullish on this move for Indianapolis. I admire Ballard's willingness to be consistent with his time frame and trajectory of his roster. Is there risk involved? Of course. Wentz needs to be fixed. But what other veteran quarterback was available that was going to help a ready-to-win roster achieve its goals in 2021? And if Indy builds Wentz back up, a four-year deal worth just under $100 million is great, great value for the team. I'm in.
Where would you rank the Colts in the AFC right now?
Bowen: I would rank the Colts on the second tier in the AFC -- on the same line with the Titans -- behind the Chiefs and Bills.
Graziano: Somewhere between third and sixth. I think Kansas City and Buffalo are the top two teams in the AFC on paper, and then the Colts slot into a group that includes the Titans, Browns and Ravens.
Karabell: We can't call them an AFC favorite, since Wentz is not Patrick Mahomes or Josh Allen, but they are a playoff team among the next tier and a potentially dangerous one.
Reid: Even with Wentz on a mission to prove the Eagles wrong, the Colts figure to enter training camp as the conference's sixth-best team. In order: Chiefs, Bills, Ravens, Browns, Titans, Colts.
Tannenbaum: I'd put the Colts fourth in the AFC, behind the Chiefs, Titans and Bills.
Walder: Sixth. I'd put the Chiefs, Bills, Ravens, Browns and Titans ahead of them. Depending on where Watson ends up, his destination (say, Miami) might leapfrog the Colts too.
Yates: The Chiefs are the favorites, with the Bills right behind them. Indy, to me, is part of the next tier of teams that is vying to reach that top echelon, with Baltimore, Tennessee and Cleveland right there as well.
Should the Eagles stick with Hurts as their starter in 2021?
Bowen: Yes. Hurts' development as a pocket thrower has continued to rise from Alabama to Oklahoma and into the NFL. He's tough, competitive and played with an edge at the end of the 2020 season. But don't be surprised if the Eagles bring in a veteran No. 2 quarterback to play behind him this season.
Graziano: I think they should use the No. 6 overall pick on a quarterback and trade up if they need to do so in order to get a guy they love. The position is just too important, and you have to maximize your chances of finding the right guy, as the Eagles know firsthand.
Karabell: The Eagles should give Hurts a legit chance in 2021 to see if he can be a reliable starter. They should use the No. 6 pick to accrue multiple selections by trading down since the team has so many needs and lacks the cap space -- thanks, Carson -- to otherwise fill those needs.
Reid: Yes. The Eagles should use their top pick to shore up another area and give Hurts a legitimate opportunity to be their long-term quarterback.
Tannenbaum: I would start Hurts, but I wouldn't rule out drafting another quarterback in April. Hurts, a second-round pick, has a cheap rookie contract, so there isn't much risk in taking another player to compete with him.
Walder: They should pursue a quarterback in the draft. Want to know a secret? Hurts' QBR last season (41) was worse than Wentz's (49.6). That's not a reason to give up on a rookie quarterback, but selecting sixth in a draft with this many potential quarterbacks is an opportunity Philadelphia should not pass up.
Yates: It ... depends. Hurts showed promise in his four starts, while also completing just 52% of his passes on the season. If there is a quarterback Philly holds in high regard at No. 6, by no means should that be off the table. If not, I would not force the issue.