Colts mulling multi-year contract extension for QB Daniel Jones: Report
Colts mulling multi-year contract extension for QB Daniel Jones: Report
Tarohn Finley Mon, February 23, 2026 at 6:48 PM UTC
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The Indianapolis Colts have had discussions about a multiyear extension for quarterback Daniel Jones, according to NFL Network's Tom Pelissero. Jones signed a one-year, $14 million deal with Indy last season and is set to hit free agency unless the team can get a deal done or tag him.
The deadline to franchise tag a player is March 3. The franchise tag or transition tag is a one-year, guaranteed tender that prevents players from hitting free agency. For quarterbacks, the salary is set at $47,321,000 and the transition tag is $40,799,000, according to Overthecap. NFL free agency officially starts March 11.
Jones beat out Indianapolis' 2023 first-round draft pick Anthony Richardson to be the team's QB1. Jones threw for 3,101 yards, 19 touchdowns and 8 interceptions before tearing his Achilles tendon in Week 14.
Jones was in his first year with the Colts and had spent his first six years with the Giants. Jones was cut by the Giants in 2024 before signing with the Vikings, but did not start a game for Minnesota.
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The Colts backslid after Jones went down. After going 8-2, the Colts finished the year with seven straight losses. Indianapolis went 8-9 and missed the playoffs for its fifth consecutive season. The Colts were only the third team in NFL history to start the year 8-2 and miss the postseason.
Last season was a preview of what the Colts could look like if they don't re-sign Jones. With Jones and Richardson being injured, the Colts signed 44-year-old Philip Rivers out of retirement. Before Rivers' second stint with the Colts, he last played during the 2020-2021 season. Rivers threw for 544 yards, 4 touchdowns and 3 interceptions in his three starts.
With Rivers announcing after Week 18 that he will go back to coaching high school football, the Colts are down to Richardson and 2025 sixth-round draft pick Riley Leonard at quarterback.
Richardson has 15 starts in three seasons and did not start a game last year. Richardson is reportedly expected to request a trade. Leonard threw for 270 yards, 2 touchdowns and an interception in his only start last season.
The Colts have had 14 different quarterbacks start at least a game since Andrew Luck retired before the 2019 season. The Colts have also had a new QB open the season each of the past seven years.
Source: “AOL Sports”
