Colts To Place Transition Tag On Daniel Jones

To no surprise, Colts pending free agent quarterback Daniel Jones will not reach the open market unfettered. The Colts are placing the $37.833MM transition tag on Jones, Tom Pelissero of NFL Network was among those to report.

This has been the expected outcome for at least a few days, though it will prevent the Colts from placing either the franchise or transition tag on pending free agent wide receiver Alec Pierce. Teams are only allowed to tag one player. The Colts and Pierce are progressing toward a multiyear deal. Indianapolis will have exclusive negotiating rights with Pierce until the legal tampering period opens March 9.

The 28-year-old Jones follows Jeff George (Falcons, 1996) as the second quarterback to receive the transition tag since the NFL introduced it in 1993. Unlike the franchise tag, a team that loses a transition player to an offer sheet is not entitled to any compensation. The Colts still have the right to match any offer that may come in, though, and they have until July 15 to continue working toward a multiyear agreement.

Jones, whom the Giants drafted sixth overall in 2019, has already signed one massive contract in his career. With the Giants of the belief Jones was a franchise QB, they inked him to a four-year, $160MM extension in March 2023. That wound up a regrettable decision for New York, which waived a struggling Jones in November 2024. He quickly joined the Vikings’ practice squad, but with Sam Darnold their starter then, Jones saw no game action.

The Vikings allowed Darnold to leave for Seattle in free agency last March. Jones exited for Indianapolis’ $14MM payday, but not before he turned down a richer offer from Minnesota. He believed he had a better path to playing time with the Colts than the Vikings, who were prepared to hand the reins to 2024 first-rounder J.J. McCarthy. The Colts also have a recent first-round QB in Anthony Richardson, though his stock has dropped considerably since he went fourth in the 2023 draft. Jones had little trouble beating out Richardson to become the Colts’ starter entering last season.

While expectations were low for the Jones-led Colts at the outset of the season, but they stormed to a 7-2 start before the Nov. 4 trade deadline. Jones looked like a far better player than the one who regularly underwhelmed with the Giants. With the Colts in contention for the No. 1 seed in the AFC at the time, general manager Chris Ballard traded his 2027 and ’28 first-round picks to the Jets for star cornerback Sauce Gardner. The gamble blew up in Ballard’s face during an injury-ravaged second half for the Colts.

Gardner, No. 2 corner Charvarius Ward and defensive tackle DeForest Buckner all missed significant time down the stretch. Worst of all, Jones tore his Achilles in a Week 14 loss to the AFC South rival Jaguars. That proved to be a fatal blow for the Colts, who lost their third straight game that day and did not win again.

Bringing 44-year-old Philip Rivers out of retirement to help cover for season-ending injuries to Jones and Richardson (orbital fracture) did not stop the bleeding for the Colts. Once 8-2, they closed the year on a seven-game skid and finished 8-9 for the second season in a row. Owner Carlie Irsay-Gordon nonetheless retained Ballard and head coach Shane Steichen.

Although Jones is just three months removed from a serious injury, the Colts are optimistic enough about his recovery to risk a $37.833MM guarantee for next season. Richardson, who has requested a trade, and 2025 sixth-round pick Riley Leonard are the only other passers on the Colts’ roster. There is still at least some chance the Colts will lose Jones (the Vikings are reportedly interested in a reunion), which will continue to make this an interesting situation to watch.