According to Fox59/CBS4’s Mike Chappell, the Indianapolis Colts and free agent starting quarterback Daniel Jones, who currently has the transition tag placed on him, are still working towards a multi-year deal:
Both sides would benefit from a longer-term deal, but it’s complicated as Jones is still recovering from a late season torn-Achilles
and really had a little over a half season of really good quarterback play for the Colts before injuries derailed his debut Horseshoe season—leading to another total team collapse down the final 2025 stretch.
For the Colts, a multi-year deal would mean lessening Jones’ current cap hit for 2026, while also providing continuity at the starting quarterback position beyond hopefully just next season.
Since franchise quarterback Andrew Luck’s shocking retirement back in the 2019 offseason, the Colts have had a turnstile at the NFL’s most important position.
For Jones, it would provide stability. He’s been on three NFL teams in the past two years, and the so far, oft-injured quarterback would get added insurance and stability, coming off an Achilles tear, especially if 2026 turns out to be more of a ‘recovery’ year from a playing standpoint, with the hopes of better days ahead in Indianapolis.
It would also mean more money coming to Jones over the entire length of the deal, instead of a 1-year, ‘prove it’ deal under the tag, particularly if he cannot regain his prior Pro Bowl caliber form with the Colts during 2026—providing him at least an extra year or two, maybe more of added insurance.
SI.com’s Albert Breer reported earlier this week that Jones and his camp turned down ‘Sam Darnold money,’ and were seeking a new deal worth $50 million per year.
In the coming days, I would expect that requested figure from Jones’ representation to significantly decrease, especially if the Minnesota Vikings sign Arizona Cardinals castoff quarterback Kyler Murray in the interim.
