Daniel

Jones

This gives Indianapolis the “right of first refusal” in negotiations with Jones, it’s the first time a transition tag has been issued to a quarterback since Jeff George. This tag means the Colts cannot tag Alec Pierce, so the wideout could hit free agency if a deal isn’t worked out. For Jones, this is a continuation of a legendary career of bag-getting, earning at least $37.8 million despite suffering a late-season torn Achilles that threatens his early-season availability. It’s hard to understand why the Colts went this route against the field when Jones’ career doesn’t really stand out in any way outside of his two-month span at the start of the season, but the simplest way to put it may be that the honeymoon never ended. Jones could sign an offer sheet with another club if another club wants to do so.

This is the difference between the franchise tag and the transition tag for the Colts, as the transition tag would still allow other teams to talk to Jones and perhaps make him an offer the Colts couldn’t match. The Vikings reportedly were willing to offer Jones the same contract he got from the Colts last offseason, so it would be no surprise that they’d be one of his biggest suitors if he were available again. We’re anticipating a tag to come down for Jones in the next few hours, but until then, this remains newsworthy.

“A deal feels possible. But long way to go,” Holder concludes. Pierce would be likely to get over $30 million a year if he hit free agency, and with Daniel Jones now appearing to shift to the main target of a Colts tag, it’s imperative that Indianapolis doesn’t let Pierce get past the franchise tag deadline today without a deal. We see no reason for Pierce to not explore free agency, but sometimes players opt for certainty. Holder categorizes Jones’ situation as “also fluid.”

It was reported after the combine by ESPN’s Dan Graziano that Jones and the Colts don’t “sound close” on a deal. On Monday, Schefter, like Graziano, added that the “transition tag is in play” if Jones and the Colts don’t get a deal done. The transition tag would allow Jones, who is coming back from a torn Achilles he suffered in Week 14, to negotiate a new deal with other teams while giving the Colts the right of first refusal to match any offer that comes his way. Jones’ injury is likely throwing a wrench in negotiations after he greatly exceeded expectations on a one-year prove-it deal in 2025. We would ultimately expect Jones to remain with the Colts for next season, but it’s possible a new deal takes a bit longer to hammer out.

Graziano floats the idea of the Colts using the transition tag on Jones — we’d be a little surprised if they did that because it seems like they’ll need to franchise tag Alec Pierce to keep him off the open market. There are two classic mistakes that are made all the time — never fight a land war in Asia, and never try to negotiate a contract with Daniel Jones off a good season. If Jones hits the open market, he’d have a fascinating free agency coming off a torn Achilles late in the season.

We last heard that the two sides planned to speak soon. Now, as we prepare for combine week in Indianapolis, Pelissero reports the two sides have begun discussions and that a multi-year deal is on the table. There’s mutual interest on both sides to get a deal done, but Pelissero said any hold up in a deal will likely center around a number that “makes sense” for a multi-year deal. Jones suffered a leg injury late in the season that was followed by a torn Achilles in Week 14. Prior to going down, Jones was playing some of the best ball of his career, throwing for 3101-19-8 while completing 68.0 percent of his passes. If they are unable to reach a deal before the franchise tag deadline, it’s possible the Colts will tag Jones to buy themselves more time to get a deal in place.

The complicating factor of a tag for Jones, as Battista writes, is that Alec Pierce is also a worthy franchise tag candidate for the Colts. Time flows like a river, and Daniel Jones finds himself in an enviable bargaining position once again. The Colts were expected to open extension talks with Jones “soon” at the Super Bowl and it wouldn’t be a surprise if the Colts and Jones started hammering some terms out at the NFL Combine.

It was no surprise to hear this as both Jones and the Colts had mutual interest in a re-signing after their regular season ended, and Jones’ Achilles tear had a lot to do with them tumbling out of the playoffs. We’re extremely curious who is compromising on value here as Jones has been an almost-Kirk Cousinsesque money maker over his early career, and it would seem that his mobility being compromised would make him tough to trust in 2026 as a starter since a real chunk of his value is tied to that. The Colts, of course, don’t have any better options after dealing their 2026 and 2027 first-round picks away for Sauce Gardner. It wouldn’t be surprising if this got to the stage of franchise or transition tags.

For his part, Jones also told reporters in a locker room availability that he’d like to be back. Finding the right contract for a quarterback coming off a late-season Achilles tear could be a little difficult, but it sure sounds like Indianapolis’ initial plan is to run back the first part of the 2025 season and hope that the last seven games don’t happen again.

Richardson’s season comes to a close. He completed 1-of-2 passes for nine yards and rushed four times for minus-one yard. The 23-year-old now has three lost seasons under his belt. In August, Richardson reportedly lost a “very close” battle to Daniel Jones for the Colts’ starting quarterback job. Things only got worse from there. Richardson’s agent told reporters that trust in the organization had been lost and a report in early October indicated that Richardson “would be open to joining a premier play caller such as Sean McVay as a developmental player so he can reset for 2026.” That scenario never came to fruition. Richardson suffered an eye injury and an orbital fracture during a pre-game elastic band workout in Week 6. Jones’ season-ending Achilles tendon rupture could afford Richardson another opportunity to compete for the starting job in 2026, though. Richardson’s potential range of outcomes remains wide as ever, heading into the new year.