Former No. 2 overall pick Mitchell Trubisky is coming off a disappointing season for Chicago, and the Bears moved the 140th overall pick to acquire Foles, a former Super Bowl MVP, from Jacksonville.
As of June 1, Foles was -305 to be the Bears starting quarterback in Week 1, odds that implied a 75% chance. Now, just a month later, Foles is -110 which implies a 52.4% chance he starts in Week 1.
On the other hand, Trubisky started the month at +200 and has moved all the way up to be the favorite at -130.
It’s unclear what has caused the shift in odds, but it makes sense that Chicago would give Trubisky every chance to win the job.
They’ve invested just a fourth-round pick in Foles, but used valuable draft capital to move up and select Trubisky in 2017.
For now, it’s a waiting game. But the team has said to expect an open competition during preseason.