BREAKING: Colts & Daniel Jones Finalizing Two-Year, $88M Extension

According to Tom Pelissero, the Colts and QB Daniel Jones have agreed on a two-year, $88 million extension.

Pelissero adds Jones can make up to $100 million with incentives factored in and $60 million is guaranteed. Jones will earn $50 million in the first year of the deal. 

Reports had indicated a deal was close for the two sides and it finally got done. In the end, Jones got pretty close to his reported initial asking price of $50 million per year. 

Indianapolis used the transition tag on Jones to prevent him from hitting the open market before the legal tampering period. The transition tag would cost $37.833 million fully guaranteed for the 2026 season, but now Jones’ cap hit will be far smaller.

Jones, 28, was selected by the Giants with the No. 6 overall pick out of Duke in the 2019 NFL Draft. He finished the final year of his four-year, $25,664,056 rookie contract that included a $16,684,768 signing bonus. 

In 2025, Jones appeared in 13 games for the Colts and completed 68% of his passes for 3,101 yards, 19 touchdowns, and eight interceptions. He also added 164 yards rushing and an additional five touchdowns.

We’ll have more on the Colts and Jones as the news is available.