The New York Giants have once again been reminded of their infamous decision to hand Daniel Jones a lucrative contract in 2023. Unlike the Giants a few years ago, the Indianapolis Colts are holding their horses before breaking the bank for the quarterback—even if he’s entering free agency ahead of the 2026 NFL season.
The Colts confirmed on Tuesday they’re using the transition tag on Jones, a measure rarely seen in the National Football League. This means Indianapolis will have the right to match any offer Jones may receive as an unrestricted free agent, and also gives the team more time to reach an agreement on a longer deal for the 28-year-old before other teams can approach him.
This move shows a significant contrast with what the Giants decided in 2023, when they handed Jones a four-year, $160 million contract ($82M guaranteed at signing) that aged poorly. With the transition tag, Jones will receive a fully guaranteed $37.83 million for 2026.
Even if the Colts don’t get Jones to sign a new contract before free agency starts and the quarterback accepts an offer sheet from another team in the open market, the team will have five days to choose to match it and keep him.
However, unlike with the franchise tag, the Colts would receive no compensation for declining to match. What the transition tag proves is that Indianapolis isn’t getting ahead of itself like New York did in 2023.
Colts not rushing things with Jones like Giants did in 2023
Despite seeing inconsistent play from their 2019 sixth overall pick until then, the Giants felt convinced to bet on Jones after a promising 2022 season where he threw for 3,205 passing yards, 15 passing touchdowns and five interceptions along with 120 carries for 708 rushing yards and seven rushing scores.
Jones had led the Giants to a road playoff win over the Vikings before a Divisional Round exit at the hands of eventual Super Bowl runners-up Eagles, and the team hoped it would be the start of something bigger. But nothing went to plan. Injuries caught up to Jones in 2023, with a torn ACL finishing his season prematurely as he recorded just 909 passing yards, two touchdowns, and six interceptions for a poor 1–5 record.
2024 was even worse, with Jones losing his starting job after throwing for just eight touchdown passes against seven interceptions for 2,070 yards in 10 weeks. He was then granted his request to be released and finished the campaign in Minnesota, though with no playing time.
2025 was his comeback year, exceeding expectations with a 7-1 start for a Colts team that deeply missed him after he suffered a torn Achilles in December. However, even after a promising year, Indianapolis is taking a safer approach than New York did back in the day.