Colts Considering Transition Tag For QB Daniel Jones

Colts QB Daniel Jones‘ contract will expire when the new league year starts next week, meaning he will be an unrestricted free agent if he’s not extended or tagged.

While Jones doesn’t seem likely to hit the open market, the Colts were reportedly considering the franchise tag because they are not close on an agreement for a new contract.

Per ESPN’s Dan Graziano, “it sounds like” the Colts will use the transition tag on Jones if they cannot get a deal done by Tuesday’s deadline.

James Boyd of the Athletic echoed this report, saying the Colts have contemplated using some sort of tag on Jones, but the transition tag is getting “real consideration” because it’s cheaper. 

Boyd does note players on the transition tag tend to get more suitors than the non-exclusive tag because there is no draft compensation involved, so opposing teams could be more willing to drive the price up. 

Per Over The Cap, the transition tag is projected to cost $37.8 million compared to the $43.9 million cost for the franchise tag for QBs, but another team could sign him to an offer sheet and the Colts wouldn’t get compensation if they choose not to match. 

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 will have more on the Colts and Jones as the news becomes available.