PHILADELPHIA -- The quarterback carousel is now in motion thanks to a big spin from the Denver Broncos. They agreed to a trade with the Baltimore Ravens for Joe Flacco on Wednesday.

One former Super Bowl MVP has a new home. What does it mean for another?

Nick Foles quickly voided his 2019 option with the Philadelphia Eagles last week by sending the team a cashier's check for $2 million. The team can still place the franchise tag on Foles and intends to do so before trying to trade him, sources on other NFL teams who have been in touch with Philadelphia told ESPN's Adam Schefter. The window to apply the tag is Feb. 19 to March 5. Philly would have to be confident it could execute a tag-and-trade before going down this road, as it can't afford Foles as a $25 million backup to Carson Wentz. One way or another, he's moving on this offseason.

The Denver deal for Flacco takes one potential landing spot for Foles off the board. The flip side is it narrows the veteran QB pool, leaving remaining teams with fewer options -- Foles being arguably the best of the bunch.

The Eagles will try to trade Nick Foles, but the market for him appears to be tightening. Ryan Kang/AP Photo

To get a feel for what type of demand there might be for Foles, we touched base with ESPN NFL Nation reporters covering QB-needy teams:

I would be shocked if the Redskins were in the mix. There have been no indications whatsoever that Washington would be willing to pay a big salary, plus surrender draft picks, for Foles, not when they'll still be paying Alex Smith's salary for at least the next two years. That's just way too much for them to invest at the position. The word I've always heard is they would go with Colt McCoy plus either a low-cost veteran (Josh Johnson) or possibly a midlevel one (Teddy Bridgewater), plus a rookie. -- John Keim

Foles makes some sense for the Giants with his connection to coach Pat Shurmur. They did some good things together in Philadelphia with Shurmur as the offensive coordinator and Foles in his first go-around as the starter. But the reunion still seems to be a long shot. The Giants are looking for their future franchise quarterback in the draft before they resort to a short-term solution in free agency. It also appears likely they keep Eli Manning around for the final year of his contract while they sort through their options. Even though Foles undoubtedly makes the Giants better in the now, it doesn’t seem a likely option unless he falls into their lap. -- Jordan Raanan

The Bengals have said Andy Dalton is their guy and it would be surprising if they wavered from that this season. Dalton is on a team-friendly contract, and though they can get out of it with no dead money, it would not be their style to make a big splash for a free agent. -- Katherine Terrell

There has been a lot of speculation the Dolphins would be a spot for Foles, but I don’t see them being a huge candidate -- particularly via trade. I see them drafting a franchise quarterback either this year or next. A stopgap signing could end up being a possible Miami route this offseason, and I’m not sure Foles fills that role. -- Cameron Wolfe

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Foles is an option for the Jaguars, but it would be most likely as a free agent. The X factor is how desperate executive VP of football ops Tom Coughlin, GM Dave Caldwell and coach Doug Marrone are when it comes to 2019. Owner Shad Khan didn't outright say the Jaguars need to return to the playoffs after an embarrassing 5-11 record in 2018, but that might be what it takes for the trio to have a shot at keeping their jobs in 2020. Foles or another veteran QB such as Bridgewater (Flacco was another name linked to the Jaguars) would give them the best chance to do that. Still, it seems unlikely the Jaguars would be willing to part with draft picks and pony up to sign Foles to a multiyear deal in the $25 million annual range. The Jaguars opted not to pursue Kirk Cousins last year because they didn't want to spend big money and their cap situation isn't as fluid this year (though they could easily find extra money by releasing several players). -- Michael DiRocco

Analysis

The market for Foles seems small based on this exercise, and it would shrink further if he had to be acquired via trade. The Jaguars appear to be the most likely landing spot. The Eagles have plenty of incentive to work out a tag-and-trade. They not only would get value in return -- the Ravens are expected to receive a midround pick in return for Flacco, which seems reasonable -- but also would ensure Foles doesn't end up in the NFC East. Jacksonville makes sense for both sides. What the Jags have to weigh is whether they should agree to a trade to guarantee they get their guy, or bet Foles shakes loose in free agency and pursue him aggressively there.