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The Jaguars release Blake Bortles

The Jaguars are reportedly giving Nick Foles a four-year, $88 million deal a year after extending Blake Bortles as Jacksonville tries to get back into the Super Bowl picture.

Nick Foles is in and, as expected, Blake Bortles is out.

One year after signing quarterback Blake Bortles to a three-year, $54 million deal, the Jaguars have cut the third overall pick in the 2014 draft.

The team has announced the move. Per a league source, it came without the post-June 1 designation. That will result in a cap charge of $16.5 million this year. With $6.5 million in guaranteed money owed to Bortles, the Jaguars will receive a credit next year for any money that he earns elsewhere in 2019.

Bortles received a $15 million signing bonus last year, only $5 million of which has previously hit the cap. He also received a $5 million base salary for 2018.