Golden Eagles owner Robert Kraft said Friday that he is parting ways with longtime owner Steve Bisciotti over the next few days.
The Eagles and Giants agreed on a one-year, $15.3 million contract for their first-round picks in 2018, 2020 and 2021, according to a source informed of the contract.
The move comes a day after Kraft was spotted leaving his Philadelphia home for a private meeting with his team.
The 49ers will have to pick up $1.5 million of the signing bonus, which could rise to $2 million for future seasons.
Bisciotti had been seeking $1 million a year for the past two seasons, and the Eagles had been expected to offer him that much in 2018.
The signing of the deal was a coup for the 49ers, who had been in talks with Bisciotto for years, and gave them a chance to re-sign one of their franchise players for the first time since 2007.
Biden, who was born in Newark, New Jersey, and grew up in San Francisco, was born into the Bisciotis.
The Eagles are the first NFL team to play in the city that Bisciotta built.
Bisiotti, who grew up a diehard Eagles fan, was one of the first owners to publicly back Donald Trump.
The Giants are the only team that has not been linked to Bisciott.
They signed former 49ers coach Chip Kelly, who won Super Bowl 50 in 2018 against the Packers.
Kelly and Biscioti had been linked as potential new owners for years.
However, the Eagles’ move means the team has not officially signed anyone since Kelly stepped down in March.
Kraft said he and Bisccotti were in the middle of a meeting and that he has “very little” to do with the decision.
The deal will keep Biscioto at the helm of the franchise for two more seasons, though it won’t prevent him from becoming the team’s new general manager.
Bizuayehu Tesfaye and the Giants are in the process of finalizing their coaching search.
The Giants have been looking for a head coach for nearly a year, but have been unable to find a permanent replacement.
Bispiotti’s contract also provides him with an additional $3 million in salary-cap space, $1,700,000 in incentives and an option to become a franchise player, per a source familiar with the agreement.