One of the league's best cornerbacks might be hitting the open market
Asomugha is scheduled to make $15M this year, $4M of which is guaranteed. He's also scheduled to make $12M in 2014 and 2015, none of which is guaranteed.
The Eagles would still be on the hook for the $4M if he were to be released, but nothing more.
After being called the "Dream Team" when they acquired Asomugha, the Eagles have gone 12-20 in the past two seasons, resulting in the firing of head coach Andy Reid.
New head coach Chip Kelly is now the one who has to decide what to do with Asomugha, as well as another CB, Dominique Rodgers-Cromartie, who will be an unrestricted free agent.
It's actually possible, albeit unlikely, that the Eagles could part ways with both of their starting CB.
If they let Asomugha go, there will probably be considerable interest in his services. There's no way he'll make what he was making with the Eagles, but there's a good chance that a team like the Patriots would bring him in and try to strike a deal with him, since their secondary has been among the worst in football over the past few years.
Signing with Bill Belichick and the Patriots might be exactly what Asomugha needs to get his career back on track. He was one of the most effective cornerbacks in the NFL while in Oakland, but just hasn't shown the same level of production in Philly. Perhaps a change of scenery will help.
His best option might be to go to another system for 1 season, prove that he can play at an elite level once again, and try for one last nice contract after next season.
We'll see if he and the Eagles can work out a deal, or if he ends up going elsewhere for 2013.