According to Tom Pelissero, the Colts are placing the transition tag on QB Daniel Jones with the goal of continuing to work on a long-term contract.
The transition tender is less than the exclusive tag, coming in at $37.833 million guaranteed for the 2026 season. It gives the Colts the right of first refusal to any offer sheet a team gives to Jones.
However, it does not entitle the Colts to any draft picks if they decline to match, making it less protective than the franchise designation.
It’s a bit of a calculated gamble by the Colts, who are also trying to thread a needle and bring back WR Alec Pierce, among other notable free agents. Jones tore his Achilles last year which would impact his market for most teams.
However, the Vikings are a possible exception and have come up this week as a team lurking to make a run at Jones.
Should Jones sign an offer sheet with the Vikings or any other team, the Colts would have five days to match the offer. An offer sheet can come at any point between now and the July deadline for a long-term deal.
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.
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