The Indianapolis Colts are facing a pivotal decision regarding their quarterback situation. Daniel Jones, who showed promise in the first half of the 2025 season, is at the center of discussions between the Colts' management and his representatives. General Manager Chris Ballard has made it clear that while the franchise tag is an option, it's not the preferred route for keeping Jones in Indianapolis.
Ballard emphasized during the NFL Combine that the franchise tag is a tool they have, but not their desired solution. The Colts are actively negotiating a long-term contract with Jones, aiming to secure his talents for years to come. However, if an agreement isn't reached, the team may have to resort to the franchise tag to ensure Jones remains their starting quarterback.
The non-exclusive franchise tag would allow Jones to sign with another team, but the Colts would receive two first-round picks as compensation. While this could be advantageous, the Colts are hopeful that Jones will return and replicate his impressive performance from early 2025, which could propel them into the playoffs under head coach Shane Steichen's system.
Jones' injury history is a concern, having endured three seasons cut short due to injuries. This adds a layer of risk to any potential $100 million-plus contract.
Despite ongoing talks, reports suggest the two sides are not yet close to an agreement. Jones, familiar with the business side of the NFL from his time with the New York Giants, is unlikely to settle for less than market value.
The Colts also have other financial considerations, such as re-signing wide receiver Alec Pierce, which could command over $20 million annually. Although the Colts have the 13th-most cap space, they face competition from other teams with more financial flexibility.
Using the franchise tag on Jones could strain future negotiations and comes with a hefty $47 million price tag. The Colts have until March 3 at 4 pm ET to make their decision, balancing the immediate need to secure their quarterback with the long-term vision for the team.