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 for quarterbacks is set at $47,321,000 and the transition tag is $40,799,000, according to Overthecap.
Jones beat out former first-round pick Anthony Richardson to be the Colts' starting quarterback. Jones threw for 3,101 yards, 19 touchdowns and 8 interceptions before tearing his Achilles tendon in Week 14.
It’s a big week for Maxx Crosby and the Raiders, who continue to discuss his future, as well as Daniel Jones and the Colts, who have eight days to strike a deal or potentially tag him. @gmfb@nflnetworkpic.twitter.com/EfztRoorlh
— Tom Pelissero (@TomPelissero) February 23, 2026
The Colts backslid after Jones went down. After starting the season 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.
This story will continue to be updated.