Colts Use Rare Transition Tag for Daniel Jones, Locking In Right to Match Any Offer at $37.833 Million

The Indianapolis Colts made their quarterback intentions clear ahead of free agency without using the franchise tag.

The Colts placed the seldom used transition tag on quarterback Daniel Jones, giving the team the right of first refusal to match any offer sheet he signs with another club. If Jones does not sign a competing offer sheet, he will play 2026 on a one year, fully guaranteed $37.833 million deal.

The transition tag functions like a controlled open market test. Jones is allowed to negotiate with other teams, but Indianapolis can keep him simply by matching the contract terms. The catch for the Colts is also straightforward: if they choose not to match and Jones signs elsewhere, they receive no compensation.

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The move is rare at quarterback. Jones is the first QB to be tagged this way since at least the mid 1990s, which is why the decision drew quick attention across the league.

Why the Colts chose the transition tag
The financial difference matters. The transition tag number comes in roughly $6 million cheaper than the non exclusive franchise tag amount for quarterbacks this year, a gap that can be the difference between keeping a core player and watching one walk.

It also fits where the Colts stand at quarterback after a season that ended with Jones sidelined.

Jones is recovering from a torn Achilles, and he started 13 games for Indianapolis in 2025 before the injury ended his season. He threw for 3,101 yards, 19 touchdowns, and eight interceptions, and posted a 100.2 passer rating. He also rushed for five touchdowns.

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The Colts used the tag after the sides did not finalize a long term deal before the deadline. Under NFL rules, a tagged player can still agree to a multi year contract with his current team, and Indianapolis can continue negotiating with Jones ahead of free agency and beyond.

What it signals about the QB room
The tag is also a strong signal that the Colts are prioritizing stability at quarterback for 2026. Indianapolis has already been moving toward a new depth chart plan.

Anthony Richardson has been connected to trade discussions this offseason after the Colts granted him permission to seek a trade. That reality made the Jones decision more urgent: if Richardson is on the way out, the team cannot go into March without a clear starter plan.

Indianapolis also has Riley Leonard in the quarterback room after selecting him in the 2025 draft, which gives the team a developmental option behind the starter.

How uncommon the transition tag really is
The NFL uses franchise tags every year. The transition tag is different, and teams rarely use it because it offers no draft pick compensation if the player leaves. That makes it a calculated gamble: the tag is cheaper than a franchise tag and keeps matching rights, but it also gives the player a clean runway to shop for a contract elsewhere.

In other words, the Colts chose the version of tagging that says, “We want you back,” without writing the biggest possible check and without fully blocking other teams from making a run at him.

What comes next
Free agency negotiations open soon, and Jones can now talk with other teams about contract structures, guarantees, and role. If another club makes a strong offer, Indianapolis will have to decide whether it wants Jones badly enough to match it. If no one pushes the market, the Colts get Jones on a one year, fully guaranteed $37.833 million deal and can keep working on a longer contract later.

For a league that pretends it loves mystery, the Colts picked a pretty direct approach: keep the quarterback they started with last season, control the negotiation leverage, and let the rest of the NFL know that if it wants Daniel Jones, it will have to put the offer in writing and make Indianapolis say no.

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