With $28 million owed and reports swirling they won't bring him back, it seems unlikely.
But NFL history tells a different story.
It should first be noted that Wentz posted a solid 94.6 passer rating with 27 touchdowns and 7 interceptions in 2021, flashing the physical talent that made him the No. 2 pick in 2016. NFL teams have talked themselves into trading for worse. It's also possible for the Colts to renegotiate Wentz's contract, lowering the salary cap hit a bit for his new team.
Looking at recent, relevant (and not so relevant) quarterback trades using Spotrac.