Daniel Jones is in the plans of the Indianapolis Colts for the near future.
Jones has agreed to a two-year, $88 million deal that will keep the quarterback in Indianapolis through 2027, NFL Networks insiders Ian Rapoport and Tom Pelissero reported Wednesday. The deal comes after the Colts used the transition tag on Jones on March 3.
Jones is set to make $50 million in the first year of the deal, which is a $12.2 million increase from the change tag he would have played at in 2026, compared to Rapoport and Pelissero. Jones will also earn $38 million in 2027, $10 million of which is guaranteed.
Jones’ new deal includes over $60 million fully guaranteed and is worth up to $100 million with incentives, according to Rapoport and Pelissero.
As he recovers from a torn Achilles, Jones and his team have been negotiating an extension for some time, but were unable to get the extension last week. They went one game with plenty of time to spare before the July 15 deadline for tagged players to sign long-term deals.
Jones was signed last offseason by the Colts as competition for 2023 first-round pick Anthony Richardson, who is looking to start over in business.
Jones threw for 3,101 yards, 19 touchdowns and eight interceptions while earning a career-high 68.0 completion percentage and leading the NFL with a 52.0 completion percentage through 13 games. Jones’ mobility was also a great fit for Shane Steichen’s offense, as he ran for five touchdowns. On top of his stats, Jones’ toughness showed. He played with a broken fibula before suffering a torn Achilles in December last year.
It’s almost likely Jones won’t be ready for the 2026 season opener, leaving second-year QB Riley Leonard as the Week 1 starter, provided general manager Chris Ballard doesn’t take on another arm.