According to multiple league sources, the Indianapolis Colts are applying the transition tag, worth $37.83M dollars for the 2026 season, to pending free agent starting quarterback Daniel Jones, which gives the Horseshoe the ability to match any offer sheet Jones signs during the upcoming free agency period:
Before then, Indianapolis will continue to negotiate with Jones in the hopes of reaching a new multi-year deal.
Of course, with Jones occupying the Colts’ one available offseason tag, it means that lead wideout Alec Pierce, Indy’s other priority free agent, is set to become an unrestricted free agent—pending a new contract extension before the NFL’s free agency period formally kicks off on Wednesday, March 11th at 4 PM EST.
While the NFL’s starting quarterback position is unquestionably the league’s most important position, it’s still a little surprising to me that this is the route that the Colts ultimately chose—especially with Jones still recovering from a season-ending torn Achilles injury suffered late during Week 14 of last season.
Similarly to former Colts free agent defensive lineman Dayo Odeyingbo last free agency period, it only takes one illogical team to make a surprisingly high offer and potentially price out Indianapolis—except Pierce is a better player, and should command even more inflated free agency dollars during the period’s first frenzied wave.
The Colts have to continue to work so that they can lock up Pierce long-term before free agency formally begins.