Overview
- NFL Network’s Ian Rapoport and Tom Pelissero report the sides have made significant progress on a two-year deal with optimism for a quick resolution, though no agreement is finalized after an earlier ‘done deal’ claim was retracted.
- The transition tag remains in place at $37.833 million for 2026 and allows Jones to sign an offer sheet elsewhere that Indianapolis can match within five days with no draft compensation if it declines.
- Reporting outlines a valuation gap, with the Colts’ initial proposal near Sam Darnold’s three-year, $100.5 million contract and Jones’ camp signaling a $50 million-per-year benchmark.
- A two-year structure is viewed as mutually beneficial, giving the team cap flexibility and injury protection and giving Jones a chance to re-enter the market if he returns to form.
- Jones delivered career-best efficiency in 2025 before a December Achilles tear, and he is expected to be Indianapolis’ 2026 starter if retained, with the Colts also moving to keep core pieces such as receiver Alec Pierce.