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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.