NFL teams aren't allowed to talk contracts with free agents until March 11, and no deals can be announced until the league's new year opens.
Sources told ESPN that the Jaguars will release quarterback Blake Bortles and name Foles as the franchise's starting signal-caller. Jacksonville will owe Bortles $6.5 million of his 2019 salary, which was guaranteed money on the contract he signed last year.
Eagles general manager Howie Roseman said Wednesday that the team wouldn't use the franchise tag on Foles, making him a free agent.
Philadelphia originally drafted Foles in the third round of the 2012 NFL Draft. He was traded to the then-St. Louis Rams prior to the 2015 campaign. He contemplated retirement, but eventually signed with the Kansas City Chiefs before returning to the Eagles in 2017.
The 30-year-old Foles has completed 974-of-1,581 passes for 11,165 yards with 68 touchdowns and 33 interceptions in his eight-year NFL career.
Following a significant injury to Eagles starting quarterback Carson Wentz in the 2017 season, Foles took over and led the Eagles to a Super Bowl title over the New England Patriots. He was named Super Bowl MVP en route to the franchise's first championship.
The Jaguars finished 5-11 in the 2018 campaign. Bortles posted a 79.8 passer rating with 2,718 yards, 13 touchdowns and 11 interceptions in 13 games.