Per a report by James Palmer, the Colts are officially shooting for a Week 1 return, though they will let Jones’ body dictate the final timeline. This follows a 2025 season where Jones threw for 3,101 yards and 19 touchdowns with a 100.2 passer rating before suffering a torn Achilles in December.

The Colts‘ optimism is a welcome sign for the veteran quarterback as he enters the first year of his new two-year extension. By avoiding a rigid schedule, Indianapolis aims to ensure their starter is fully healthy to build on last year’s performance once the 2026 season kicks off.

What if Jones can’t return for Week 1?

If Jones isn’t cleared by the opener, the starting job likely falls to Riley Leonard. The second-year quarterback out of Notre Dame posted a 67.7 passer rating during the 2025 season and has the mobility to thrive in Shane Steichen’s system.

Behind Leonard, the depth chart gets complicated due to the ongoing trade rumors surrounding Anthony Richardson. While Richardson’s physical tools are elite, his 50.6% career completion rate and injury history have led the front office to keep other options like Seth Henigan ready.

The Colts’ primary goal is to maintain offensive rhythm through a “next man up” mentality while Jones finishes his rehab. Whether it’s Leonard or a veteran addition, the scheme will focus on protecting the ball and leaning on the run game to stay competitive in the AFC South.

During Week 14 of last season, in the game against the Jacksonville Jaguars, Jones suffered a severe Achilles heel injury, which brought to an end what had been a great campaign for the QB.

Over a recent appearance on The Pat McAfee Show, the former New York Giants player shared interesting details about his recovery: “My goal is to be ready to go for week one…I’m planning on being out there to start the season.”

The Indianapolis Colts aim to replicate what they achieved last season, at least the first half, which was more than satisfactory. Will Daniel Jones be the one to deliver the big impact this year?

Daniel Jones’ numbers in 2025

Before his season-ending injury, Daniel Jones was putting together a career-best campaign in Indianapolis, leading the Colts to a strong 8-2 start. In 13 games, he completed 68% of his passes for 3,101 yards, 19 touchdowns, and only 8 interceptions, posting a career-high 100.2 passer rating.

He also remained a dual-threat weapon in Shane Steichen’s offense, contributing 164 rushing yards and 5 touchdowns on the ground before his Achilles tear in December.

According to journalist Tom Pelissero via his account on X, the former New York Giants player has secured his immediate future with the franchise for two more years, in an $88 million deal that can be worth up to $100 million with incentives.

Jordan Schultz also shared interesting details about this move: “Daniel Jones will earn $50M in 2026 before incentives, a $12.2M increase from the transition tag he would have otherwise played on — and $38M in 2027 before incentives, with $10M guaranteed.”

Highest-paid QBs in the NFL

As of March 2026, the hierarchy of NFL quarterback compensation is topped by Dak Prescott, who leads the league with a record-breaking average annual value of $60 million.

Following him, Josh Allen and Joe Burrow are currently tied for the second spot, both earning an average of $55 million per year under their respective extensions with the Bills and Bengals.

Full list:

• Dak Prescott (Dallas Cowboys) – $60 million
• Josh Allen (Buffalo Bills) – $55 million
• Joe Burrow (Cincinnati Bengals) – $55 million
• Trevor Lawrence (Jacksonville Jaguars) – $55 million
• Jordan Love (Green Bay Packers) – $55 million
• Tua Tagovailoa (Miami Dolphins-Atlanta Falcons) – $53.1 million
• Jared Goff (Detroit Lions) – $53 million
• Brock Purdy (San Francisco 49ers) – $53 million
• Justin Herbert (Los Angeles Chargers) – $52.5 million
• Lamar Jackson (Baltimore Ravens) – $52 million

Jones’ financial progression

Throughout his career, Daniel Jones has seen a dramatic escalation in his earnings, starting with a $25.7 million rookie contract with the New York Giants. After securing a massive $160 million extension in New York, he recently reached a new peak with the Colts, signing an extension worth $88 million that can reach up to $100 million with incentives.

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.

After an outstanding 2025 NFL season, the veteran quarterback was expected to land a lucrative long-term deal. Instead, the Colts opted to use the transition tag, reminding the New York Giants of their failed decision with Jones in 2023.

A transition tag is not the same as a franchise tag. There are key differences between the two, and the Colts are likely betting that Jones will not receive an offer sheet they are unwilling to match.

What is a transition tag in the NFL, and how does it differ from the franchise tag?

The transition tag is rarely used in the NFL. For a quarterback, it was last applied in 1996, when the Atlanta Falcons used it on Jeff George. The differences compared to the franchise tag are significant.

First, under both the exclusive and non-exclusive franchise tag, a player’s rights are more tightly controlled. In the non-exclusive version, a player can negotiate with other teams, but if his original team declines to match an offer, it receives two first-round picks as compensation. Under the transition tag, however, if the original team declines to match an offer sheet, it receives no compensation at all.

Second — and likely the main reason the Colts chose this option — is the financial aspect. A franchise tag guarantees a one-year contract based on the average of the top five salaries at the player’s position over the last five years. The transition tag, on the other hand, is calculated using the average of the top 10 salaries at the position, making it less expensive.

Colts hope not to receive any offers for Daniel Jones

Even though Daniel Jones delivered a strong 2025 season, the torn Achilles injury raises questions about his level once he returns. That may be one of the main reasons the Colts applied the transition tag, hoping other teams remain hesitant and choose not to submit an offer sheet for the quarterback.

Despite the transition tag allowing Jones to negotiate with other teams, the Colts still hold significant leverage. If another franchise presents an offer sheet, Indianapolis would have the right to match it. Given the circumstances, the Colts would likely do so rather than risk losing Jones without receiving any compensation in return.

Recently, the Colts allowed Anthony Richardson to seek a trade. However, the understanding that the team and Jones were close to an extension might not be as true. According to Dan Graziano of ESPN, contract talks between the Colts and Daniel Jones don’t “sound close.”

Apparently, there is quite a gap between what the Colts are offering and Jones is asking. The alternative is to put a franchise tag on Jones that would get him $43.9 million, or a transition tag that would warrant a $37.8 million paycheck for the QB.

Jones is a risky renewal

There are two key factors that might really concern the Colts when giving Jones a big contract. First, he is coming off one of the worst injuries known to athletes. Recovering from a torn Achilles is not easy, it’s quite the opposite of that. Hence, there should be more hesitation than just throwing the money at the quarterback.

The other one is consistency. Daniel Jones only had one great season under his belt, the Giants paid him handsomely and then regretted it. With the Colts, he was having a very good season, but will they also make the mistake? After all, that can send a franchise years back.

The Colts haven’t had a proper franchise QB since 2018

Ever since Andrew Luck retired, the Colts haven’t been able to solidify an actual QB. That was eight years ago. After that, no starting QB has played more than one season under center for them.

Shane Steichen will enter his fourth year on the job, and he hasn’t been able to establish a winning culture because of the lack of a proper QB1. He has worked miracles with Gardner Minshew, Anthony Richardson, and now Daniel Jones. However, if the Colts want to be taken seriously, they need to solve this issue as soon as possible.

Names like Aaron Rodgers, Russell Wilson and Daniel Jones hover over the conversation, each carrying a different question about value, durability and direction. Their futures are tied not only to performance, but to franchises searching for clarity under center.

Free agency rarely follows a script, and quarterback movement tends to trigger league-wide consequences. What begins as negotiation can quickly become transformation, setting the stage for unexpected contenders and quiet endings long before training camps reopen across the country.

NFL quarterbacks with free agency in 2026

NFL teams across the league are gauging how to address one of the sport’s most pivotal roster questions: quarterback play. With a slew of veteran signal-callers set to hit free agency, clubs with unstable rooms are weighing their next move, knowing one signing can tip the balance between contender and also-ran.

The spotlight on marquee names like Aaron Rodgers, Daniel Jones and Russell Wilson underscores the league’s broader search for stability under center. Beyond the biggest names, emerging talents such as Malik Willis also figure into the QB narrative, offering intriguing upside for teams hesitant to invest big in aging stars.

The choices organizations make in free agency — whether to lock in proven leadership, gamble on resurgence or pivot to youth — could have ripple effects throughout the 2026 season and beyond.

One could say Jones also saw the profits of having Alec Pierce on his team. It was symbiotic. Pierce is now headed to free agency “I think it’s gonna be a lot of good things in front of me. We’ll see, this next month might be crazy. We’ll see what ends up happening,” Pierce said to SiriusXM NFL Radio.

Pierce just had his first 1,000-yard season and only on 47 receptions. He also scored six touchdowns. Pierce had a career-high in targets as well, meaning the Colts really looked his way. They could keep him on the team if they re-sign him, but that would be a very expensive deal.

Pierce might be the best vertical threat in the NFL

Pierce might not be talked about enough. He is arguably the NFL’s best vertical threat. Pierce has led the league in yards per catch in the last two seasons. He also has quite a wide catch ratio and the athleticism to just leap over corners and grab contested catches.

Pierce is a guy who many teams should look at during free agency. His skill set allows him to be a very desirable name for any team who lacks deep ball game. With Tyreek Hill entering free agency, Pierce’s stock could suffer a bit. However, Hill is 32 and recovering from a gruesome knee injury. Pierce is in his prime and healthy.

The Colts should really consider re-signing Pierce

The Colts might be willing to let Pierce go because, in all fairness, they have a deep and talented WR room. Michael Pittman is borderline elite. Josh Downs is a very talented option on the slot, and they have all-world tight end Tyler Warren.

However, losing Pierce would make things difficult for another key player: running back Jonathan Taylor. Without Pierce, there’s not much of a deep threat for the Colts. Hence, defenses wouldn’t hesitate that much, and would load the box to try and contain Taylor. It would also make the offense much more predictable. Therefore, the Colts should really think if letting Pierce go is the right move.

Cameron Wolfe of NFL Network, the Colts could have an aggressive approach to try and land EDGE Trey Hendrickson. It would either be a tag-and-trade scenario or free agency.

There might be a reason for it. The Colts DC is Lou Anarumo, and the DL coach is Marion Hobby. Both coaches worked with Hendrickson during their times on the Bengals. Hence, the three parties know each other very well.

Hendrickson would enter a stacked D-Line

Hendrickson is a star, however, the Colts already have plenty of talent already. Basically, Hendrickson would be the cherry on top of an excellent unit. Hendrickson only played seven games last season, yet he still had four sacks.

Names like DT DeForest Buckner, linebackers Kwity Paye, Laiatu Latu, and Germaine Pratt would very much welcome having another big-time player. On the secondary, they have corners Charvarius Ward, Sauce Gardner, and Kenny Moore. The safeties Cam Bynum and Nick Cross complete a top-tier secondary.

The Colts were poised for success until injuries struck

Daniel Jones was having a wonderful season and the Colts were enjoying all that success. However, injuries hit the team bad. Jones suffered an Achilles tear, as well as some injuries on the defense limited the team’s potential.

The Colts started 8-2, but ended on a seven-game losing streak, so they weren’t able to be in the NFL Playoffs as they ended with an 8-9 record. If health respects this team, they could be a problem next year.

Daniel Jones shocked everyone with an impressive debut season with the Colts in 2025. Unfortunately, he tore his Achilles during the year, raising questions about his future in 2026, when he is scheduled to become a free agent.

However, the Colts believe Daniel Jones is the quarterback they need. On Thursday, general manager Chris Ballard said he envisions a future with Jones as the team’s QB1 following his solid 2025 campaign. “I think Daniel Jones has a really bright future here in Indianapolis,” Ballard said.

A message for Anthony Richardson

On Tuesday, Colts owner Carlie Irsay-Gordon shared an intriguing update on Anthony Richardson. However, Ballard’s comments may have now clarified the future of the former first-round pick.

Irsay-Gordon was clear when she said the front office and coaching staff would make the final call on the Jones vs. Richardson decision. Now that the general manager has spoken, it will ultimately fall to head coach Shane Steichen to decide the future of the former No. 4 overall pick.

According to rumors, the Colts attempted to trade Richardson during the 2025 season. With Ballard now envisioning Jones as the team’s QB1 in 2026, it appears to be only a matter of time before the organization moves on from Richardson, although his trade market may be limited.

Daniel Jones’ situation could go both ways

Last offseason, the Colts acquired Daniel Jones to sit behind Anthony Richardson. Instead, he won the starting quarterback job and led the team to an 8–5 record before his season ended due to the Achilles injury.

The Colts remain confident in the former Duke standout. Still, an Achilles injury is difficult to overcome, and many fans are questioning whether Jones can return at the same—or an even higher—level than he showed during the 2025 season.

At the center of the speculation is QB Daniel Jones, who excelled early in his tenure before suffering a season-ending injury. With his contract expiring and clubs watching, his next deal has become a defining subplot for Indy’s offseason.

But the quarterback isn’t the only name drawing attention. From established starters to depth pieces across offense and defense, the list of 2026 free agents presents both risk and opportunity for an NFL team still chasing consistency under its current regime.

Indianapolis Colts free agents in 2026

As the 2026 NFL free agency period approaches, the Colts find themselves at a crossroads with several key contributors nearing the end of their contracts in Indianapolis. At the center of the buzz is quarterback Daniel Jones, who is scheduled to become an unrestricted free agent in mid-March.

He has publicly expressed his desire to remain with the franchise, emphasizing his comfort with the coaching staff and locker room environment — comments that offer a glimpse into how both sides view a potential reunion.

Behind the quarterback situation lies a broader roster puzzle. Indianapolis has a sizeable list of impending free agents spanning offense and defense. From veteran linemen like Ryan Kelly to depth playmakers such as Ashton Dulin, and defensive contributors like E.J. Speed and Julian Blackmon, multiple players could enter the open market and test their value elsewhere.

Free agency in March could be particularly consequential for the Colts if they opt to re-invest in established veterans or lean more heavily on younger and cost-controlled talent.

Each choice has implications for draft strategy, cap management and the identity of the roster as Indianapolis attempts to rebound from a season that began with hope and ended with questions.