The Philadelphia Eagles have agreed to trade quarterback Carson Wentz to the Indianapolis Colts for a 2021 third-round draft pick and a conditional 2022 second-round pick that could turn into a first-rounder.

The Eagles will receive the 85th overall pick in this year's draft, and the conditional second-rounder can become a first-round pick based on Wentz's playing time, according to sources. Wentz needs to play at least 75% of the Colts' offensive snaps for the 2022 conditional pick to convey to a first-rounder.

The pick also could become a first-rounder if Wentz plays at least 70% of the snaps and the Colts reach the playoffs. But the worst the 2022 pick can be is a second-rounder, meaning the Eagles are assured of netting two value picks for Wentz.

The Eagles will take a $33.8 million dead-cap hit -- the largest dead-cap hit that any team ever has taken for a player -- while the Colts will assume the balance of Wentz's $128 million extension, including the $10 million guaranteed roster bonus due March 19.

The Eagles signed Wentz to a four-year, $128 million extension in June 2019, signaling their belief that he was the long-term answer at quarterback.

Wentz, 28, appeared to be on a trajectory toward stardom in Philadelphia after throwing 33 touchdowns and just seven interceptions in 2017 while making a hard charge for the MVP before tearing multiple knee ligaments that December. He developed a stress fracture in his back the following season but managed to toss 48 touchdowns to 14 interceptions over the next two years.

Wentz also is one of only six quarterbacks in NFL history to record 20-plus passing TDs and 10 or fewer interceptions in three straight seasons, joining Tom Brady, Drew Brees, Peyton Manning, Aaron Rodgers and Russell Wilson. He was named first-team All-Pro and made his lone Pro Bowl appearance in 2017.