Indianapolis Colts News & Rumors

The Colts-Jonathan Taylor saga came to an end on Saturday with the parties finalizing a three-year, $42MM extension. The deal coincides with the former rushing champion’s return to game action, and it illustrates the degree to which fences were mended before an agreement was reached.

As Taylor rehabbed his lingering ankle injury – an ailment which led to his PUP designation to start the year and invited questions about his true health status – it seemed clear his relationship with the Colts was beyond repair. Indianapolis had denied the 24-year-old’s extension request, and allowed his agent to explore a trade. No deal materialized, though, setting Taylor up for a return to action in Week 5.

The former second-rounder added to the uncertainty surrounding his tenure with the Colts when speaking publicly for the first time this season, but that is now no longer in doubt. Attitudes on both sides seemed to improve recently as Taylor rehabbed; that process drew praise from the organization, SI’s Albert Breer notes. Now that a multi-year pact is in place, Taylor will look to return to his 2021 form while the Colts move forward with their top rushing option.

Having previously taken a public stance against running backs meeting to discuss the position’s downward financial outlook, owner Jim Irsay made one of the league’s top commitments with this Taylor contract. The former’s remarks in the wake of the deal – which will see Taylor earn $26.5MM guaranteed – confirm his expectation that a return to full health and productiveness will take place following a brief easing-in period.

In a conference call with local reporters, Irsay acknowledged (via Fox 59’s Mike Chappell) that he felt the extension was put together “too soon” in Taylor’s contract year but expressed enthusiasm over the prospect of having the Wisconsin alum in the fold through 2026. Talks on a deal – and, along the way, attempts to thaw relations – took part recently, with Chappell noting franchise icon Edgerrin James was involved in the process. If all goes according to plan, the team’s offense will be founded on the play of Taylor and rookie quarterback Anthony Richardson for the foreseeable future, a prospect Irsay added he is encouraged by.

“[Taylor’s] a SPECIAL player and this extension is important knowing the impact he’ll make as our team develops under [head coach] Shane [Steichen],” a statement from Irsay reads in part. “I have no doubt he’ll continue to create highlight plays and memories for our fans. He deserves this deal and I’m happy for him.”

Designated for return from the Colts’ reserve/PUP list this week, Jonathan Taylor is practicing with his team for the first time since last season. The former rushing champion’s status for Week 5 is unclear, but he confirmed Thursday he is healthy. For a second straight day, Taylor was a full practice participant.

Although Taylor underwent what has been classified as a minimally invasive ankle surgery in January, he has either taken much longer than expected to recover or used the injury as an excuse to stay away from the team amid trade talks. Asked about the extended rehab timeline, the fourth-year running back said (via ESPN’s Adam Schefter and the Indianapolis Star’s Joel Erickson) “no surgery is the same” but added he is ready to return.

In his first comments since the July trade request, however, Taylor has refrained from discussing his Colts future. Taylor said he is “here right now” but added he is committed to returning to action (via Fox 59’s Mike Chappell). The disgruntled back is set to begin a contract year late. The Colts have the option of trading of him until October 31, but this long-running issue could also be put aside for the time being.

With Taylor calling his contract situation an “offseason issue,” the Colts could be set to activate him. They can do so at any point until October 25. If Taylor is not activated from the PUP list by then, he would stay on the PUP list for the rest of the season. That would be highly unlikely, as it would lead to Taylor’s contract tolling to 2024. Shane Steichen has not ruled out Taylor from playing against the Titans on Sunday. Considering what has gone down between player and team over the past 2 1/2 months, Taylor’s debut — whenever it happens — will be one of the most interesting in recent NFL history.

Already expressing disappointment about the state of the running back market, Taylor shifted from wanting to retire as a Colt to asking for a trade. Jim Irsay played the lead role in the relationship’s deterioration, sending a much-discussed tweet criticizing running backs for gathering on a Zoom call to discuss the seismic offseason at their position. A subsequent Taylor-Irsay meeting did not go well, and while the owner attempted to walk back his comment by saying it was not aimed specifically at Taylor, the damage escalated. Taylor’s recently hired agent became a prominent player in this impasse as well, and the three-year Colts RB1’s demeanor changed upon returning to Indy’s facility.

Taylor, 24, is in a difficult position with regards to his contract. Although the Colts have taken care of a number of core players before their contract years under Chris Ballard (Quenton Nelson, Ryan Kelly, Braden Smith and Shaquille Leonard among them), the seventh-year GM cited Indianapolis’ 4-12-1 2022 record as a reason the team was not planning to extend Taylor this year. The team declined a Taylor extension request this offseason. Barring a trade before the deadline, the Colts will still have the option of franchise-tagging Taylor — on what will be the NFL’s second-lowest tag number, ahead of only kickers and punters — in 2024.

The Colts have discussed Taylor in trades, doing so during the final week of August. While the Dolphins and Colts engaged in discussions, doubt surfaced about Indianapolis’ desire to grant Taylor’s request. Irsay initially said the Colts would not trade Taylor, but the team is believed to have since dropped its asking price — from an unrealistic place (a first-rounder or equivalent value) to pushing for a second-rounder — in recent weeks. The market for Taylor, which was never believed to be robust, looks to have cooled. That may well have prompted Taylor to stand down and begrudgingly return to the team.

In his most recent healthy season, Taylor won the rushing title by more than 500 yards. This ankle issue doubles as Taylor’s only notable injury during his pro or college careers. It had been widely suggested Taylor was exaggerating the injury to apply pressure on the Colts. If the Wisconsin alum truly needed more than eight months to recover, that would stand to affect his trade value as well. Teams had been leery of trading prime draft assets for Taylor and agreeing to a top-market extension. The ankle issue being a true nagging concern would introduce another complication.

The Colts have used Zack Moss as their primary back over the past three weeks, and the ex-Bills second-round pick has played fairly well. Moss has gained 210 rushing yards over the past two games. That said, Taylor has proven to be one of the NFL’s premier backs when healthy. If activated, he should regain his starting role quickly. Though, it would not surprise to see Moss remain in the mix with the now-Anthony Richardson-led offense.