The Indianapolis Colts and quarterback Daniel Jones are currently in a major standoff regarding his future with the team. Both sides failed to reach an agreement before the recent franchise tag deadline.
Reports indicate a massive financial gap between the organization and the player. NFL insider Albert Breer recently shared specific details about these failed negotiations in his mailbag for Sports Illustrated.
Daniel Jones turned down a contract offer that was ~$100M ⁉️
🔗: https://t.co/Gm8KLHRHvS pic.twitter.com/igGuzOS5bD
— Bleacher Report (@BleacherReport) March 9, 2026
The Colts began the process with an offer mirroring recent market trends for veteran starters. Breer reported that the team’s initial offer was not what Jones expected.
“The Colts’ initial offer to Jones was in the range of Sam Darnold’s three-year, $100.5 million deal last offseason,” Breer wrote.
This offer would have paid Jones an average of $33.5 million per year. The team clearly viewed Jones as a solid starter but did not value him among the highest paid players at his position.
Jones and his representatives had a very different plan for his new contract. They used the high cost of the franchise tag as leverage to demand a much larger salary. Breer explained the camp’s response on the quarterback’s behalf.
“Jones’s camp countered that, based on the leverage a franchise tag would have given him, a deal worth $50 million per year would be more in the ballpark of what he’d take if he did a deal before this week,” Breer wrote.
Dec 7, 2025; Jacksonville, Florida, USA; Indianapolis Colts quarterback Daniel Jones (17) leaves the field with an apparent injury against the Jacksonville Jaguars during the first half at EverBank Stadium. Mandatory Credit: Matt Pendleton-Imagn Images
Dec 7, 2025; Jacksonville, Florida, USA; Indianapolis Colts quarterback Daniel Jones (17) leaves the field with an apparent injury against the Jacksonville Jaguars during the first half at EverBank Stadium. Mandatory Credit: Matt Pendleton-Imagn Images
This counteroffer created a $16.5 million difference in annual salary between the 2 sides. The $50 million figure would place Jones among the league’s elite earners.
Because they could not find common ground, the team used the transition tag on Jones for the 2026 season. He can still talk to other teams, but the Colts have the right to match any offer he receives. Both sides now have until July 15 to agree on a long term deal.
Indianapolis Colts place transition tag on Daniel Jones
The Indianapolis Colts placed a transition tag on Daniel Jones on March 3, 2026. This move gives Jones a 1 year deal worth $37.833 million. He can talk to other teams but the Colts can match any offer.
Jones led the team to a 7-1 start in 2025. Hethrew for 3,101 yards and 19 touchdowns before a torn Achilles tendon ended his season on December 7. Fans call him Indiana Jones.
He signed a $14 million contract in 2025. He beat Anthony Richardson for the starting job. Now the team and Jones are working on a long extension.