EDITOR'S NOTE: After the publication of this article, Daniel Jones and the Colts agreed to terms on a two-year, $88 million deal worth up to $100 million, NFL Network Insiders Ian Rapoport and Tom Pelissero reported.
The Indianapolis Colts are working toward a multi-year deal with quarterback Daniel Jones.
Jones’ reps and the Colts have made significant progress toward a two-year extension, NFL Network Insiders Ian Rapoport and Tom Pelissero reported Wednesday morning, per sources.
The Colts used the transition tag on Jones on March 3, which cost $37.833 million, but allowed the QB to test the market. Indy would have a chance to match any offer but would receive no compensation if it chose not to.
A two-year deal could make sense for both sides, giving each flexibility moving forward, given Jones’ Achilles injury.
The short-term nature of the deal would give the Colts some cushion in case the recovery takes time or completely saps the QB’s play. Sinking a ton of guaranteed money into a QB coming off a significant injury would have been a major gamble. Yet by ensuring he’s around beyond 2026, the brass can build with a plan in place.
For Jones, it offers another bite at the apple if he gets back to the pre-injury track he showed under Shane Steichen.
Jones threw for 3,101 yards, 19 touchdowns and eight interceptions while earning a career-best 68.0 completion percentage and led the NFL with a 52.0 success rate. His mobility also played a role, as he rushed for five touchdowns. How will that be affected by the Achilles tear?
The Colts entered the offseason aiming to keep both Jones and receiver Alec Pierce. At the opening of the negotiating window on Monday, they agreed to a four-year, $114 million deal with the wideout. Now they are closing in on ensuring Jones is around beyond 2026 as well.