The St. Louis Rams signed quarterback Nick Foles to a two-year extension, the club announced Friday.
Financial terms weren't released by the team, but a league source told ESPN's Adam Schefter that Foles signed a $24.5 million extension. He'll receive close to $14 million guaranteed, according to NFL Network's Ian Rapoport.
Foles was traded from the Philadelphia Eagles to the Rams on March 10, along with a 2015 fourth-round pick and 2016 second-round pick, in exchange for fellow quarterback Sam Bradford and a 2015 fifth-round pick.
The Arizona product had an outstanding campaign in 2013, throwing for a whopping 27 touchdowns against two interceptions in 13 games with the Eagles. However, Foles' stratospheric early returns proved emblematic of a small sample size. He tossed 13 touchdowns against 10 interceptions in eight games during the 2014 campaign, before suffering a broken collarbone that ended his season.
St. Louis is banking on Foles becoming the quarterback of its future, armed with a young and talented roster that could quietly usurp the Seattle Seahawks in the NFC West - if Foles' performance is closer to its 2013 levels than the 2014 iteration.
The 26-year-old is making an excellent early impression with the Rams, with tight end Jared Cook raving about his new signal-caller.
"He's everything that you want in a quarterback - everything that you've always wanted," Cook said in June, according to the Rams' official website. "It just feels like he belongs here, and it feels like he's been here for a while, which is a good piece. It's what we need."
Foles is now the face of a young offense that features two promising running backs in Todd Gurley and Tre Mason, and could be the one to spur a once-dormant passing attack. Under contract through 2017, Foles will be afforded every opportunity to lead the Rams out of a decade-long playoff drought.