In a move that solidifies their quarterback position, the Colts have managed to bring back a starting QB for consecutive seasons under Chris Ballard’s leadership. The journey to re-signing Jones was anything but straightforward.
Despite placing a transition tag on him, the Colts faced the possibility of losing him to other suitors. However, the team successfully inked a deal just before the new league year kicked off, ensuring they stayed under the salary cap and secured their quarterback for the near future.
Let's break down the deal:
- 2026: Jones will carry a $50 million cap hit, ranking as the fourth highest, with all $50 million guaranteed upon signing.
- 2027: His cap hit drops to $38 million, with $10 million guaranteed.
There’s some flexibility here. If the Colts add void years, the 2026 cap hit could shrink to $27 million, offering a $10 million saving against the tag. However, this would push more financial burden into 2027 and beyond, potentially complicating future roster decisions if the team decides to part ways with Jones.
This deal, averaging $44 million annually, stands as the largest two-year contract in NFL history, yet it cleverly maintains the Colts' long-term flexibility. If they choose to pivot from Jones in 2027, they could save a significant $28 million.
Adding to the intrigue, wide receiver Alec Pierce opted to stay with the Colts for $29 million per year, despite higher offers from teams like the Commanders. His decision was influenced by the opportunity to continue playing alongside Jones, providing the Colts with some financial breathing room.
As Jones recovers from an Achilles tear suffered in early December, the Colts are hopeful he’ll be ready to take the field in Week 1. While it's uncertain how quickly he’ll regain top form, his performance in the early part of the 2025 season gives the team confidence that he can lead them in a playoff push once he’s fully back in action.