Key Highlights
- The Colts’ initial offer to Daniel Jones was in the range of Sam Darnold’s three-year, $100.5 million deal.
- Daniel Jones is restricted by the transition tag and can’t receive offers from other teams until the new league year begins on Wednesday at 4:00 p.m. ET.
- Any long-term offer for Daniel Jones will be weighed against his one-year, $37.833 million contract under the transition tag.
- The Colts went with a lower level of the franchise tag, which creates a basis for a two-year payout of $83.237 million if he leaves via an offer sheet.
So here’s where we stand on Wednesday at 4:00 p.m., ET. The Colts and Daniel Jones are in the midst of a delicate dance, one that could decide the future of their quarterback situation. Albert Breer of SI.com dropped the bombshell that the Colts’ initial offer to Jones was in the range of Sam Darnold’s three-year, $100.5 million deal with the Seahawks. That’s a hefty sum, but it sets the stage for some serious negotiations.
Transition Tag and Offer Sheets
The transition tag is a crucial part of this equation. Jones can’t accept offers from other teams until after Wednesday at 4:00 p.m., ET. If he does, the Colts have five days to match the offer or lose him for nothing.
But what if they don’t? Jones would fall out of the compensatory pick system, and the Colts could save $37.833 million in 2026 by letting him go.
The Colts’ Offer
But let’s not get ahead of ourselves. The Colts didn’t use the franchise tag; they went with a lower level, which means Jones could sign an offer sheet with another team if he wanted to leave. If that happens, the Colts have five days to match it or face losing him for nothing. That creates a two-year payout of $83.237 million, or an average of $41.62 million per year.
Health Concerns and Market Dynamics
Add to this Jones’s health concerns. He’s recovering from a torn Achilles tendon suffered in December 2025 and has had multiple other significant injuries during his seven-year career. The market for veteran quarterbacks is also heating up, making the Colts’ decision even more complex.
Long-Term Outlook
The Colts seem to be banking on no one breaking the bank for an offer sheet they won’t match. That makes the transition tag the starting point for a possible long-term deal that would land in the range of $41 million per year. It also gives Jones the ability to collect $37.833 million for 2026 and play under the transition tag.
So, will another team put together an offer sheet that he’ll sign? Only time—and perhaps some negotiation skills—will tell.