Former Philadelphia Eagles backup quarterback and fan-favorite Gardner Minshew signed with the Indianapolis Colts on Friday. He will reunite with former Eagles offensive coordinator Shane Steichen. 

The 26-year-old quarterback signed a one-year, $3.5 million contract worth up to $5.5 million with incentives, The Associated Press reported, citing sources. 

Dec 5, 2021; East Rutherford, New Jersey, USA; Philadelphia Eagles quarterback Gardner Minshew (10) runs the ball against the New York Jets during the second quarter at MetLife Stadium.

Dec 5, 2021; East Rutherford, New Jersey, USA; Philadelphia Eagles quarterback Gardner Minshew (10) runs the ball against the New York Jets during the second quarter at MetLife Stadium. (Brad Penner-USA TODAY Sports)

Minshew joins the Colts with the opportunity to compete for the starting job following the release of veteran quarterback Matt Ryan earlier this week after just one season in Indianapolis. 

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Drafted in the sixth round by the Jacksonville Jaguars in 2019, Minshew was 7-13 as starter in two seasons with the Jaguars. He was traded to the Eagles in 2021 as a backup to Jalen Hurts and went 1-3 as a starter this past season, following Hurts’ shoulder injury. 

Jacksonville Jaguars quarterback Gardner Minshew (15) reacts in the second half of an NFL preseason football game against the New Orleans Saints in New Orleans, Monday, Aug. 23, 2021. (AP Photo/Brett Duke)

Jacksonville Jaguars quarterback Gardner Minshew (15) reacts in the second half of an NFL preseason football game against the New Orleans Saints in New Orleans, Monday, Aug. 23, 2021. (AP Photo/Brett Duke)

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With a rotating quarterback position over the past five seasons, the Colts will more than likely draft the No. 4 overall pick, but Minshew is no stranger to this situation. 

When the Jaguars drafted Trevor Lawrence in 2021 with No. 1 overall pick, Minshew competed for the starting job up until right before the start of preseason with former head coach Urban Meyer praising him as a "warrior-competitor." 

Gardner Minshew vs the Titans

Gardner Minshew, #10 of the Philadelphia Eagles, looks on against the Tennessee Titans during the second half at Lincoln Financial Field on December 4, 2022, in Philadelphia, Pennsylvania. (Scott Taetsch/Getty Images)

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Minshew will also have some familiarity with new head coach Shane Steichen, who previously served as the Eagles' offensive coordinator from 2021 to 2022. 

The Associated Press contributed to this report.