The Indianapolis Colts want quarterback Daniel Jones to return, and supposedly, Jones wants to come back, too. But he wants to get paid to do so, as much as $50 million a season, according to Sports Illustrated's Albert Breer.
Jones and his people knew that the team was likely to apply the franchise or transition tag to him after the QB initially rebuffed the team's reported first offer. That was something close to Sam Darnold money with the Seattle Seahawks. Darnold signed last season for three years and a max of $100.5 million.
Jones played for only $14 million in 2025 with Indy, a relatively low amount for an NFL starting quarterback (and a lot of money for almost any other human being), but he has played for as much as $40 million a season before in his career. He did so with the New York Giants.
Daniel Jones asked for a huge amount of money from the Indianapolis Colts this offseason
Was he overpaid then? Sure, but he knows how it feels to make that much. He wants to make that much again. $40 million would be almost directly between the transition tag amount ($37,833,000) and franchise tag number ($43,895,000), but general manager Chris Ballard didn't go that high. Yet.
If he had, Jones would likely have already been back with the team. One might rightfully think that Ballard is intentionally underselling the quarterback, and is going to let the open market dictate how much Jones will make. The Colts could come to regret that.
The quarterback is free to negotiate with any team, and should he agree to a deal that Indianapolis either doesn't want to or can't match, Jones could walk away in free agency, and Indy would receive nothing in return.
Had Ballard applied the franchise tag for about $6 million more, the QB would have been almost certain to return as the Colts would have received the equivalent of two first-round draft picks if he joined another team.
Everyone involved in the situation is taking a risk. The Indianapolis Colts, who don't currently have the money to spend on Daniel Jones should he get as much as $45 million a season, are gambling that no other team is going to pay the quarterback more than the transition tag.
The QB is taking a chance that another team is going to offer high-end money, even knowing that Jones, who tore his Achilles tendon in Week 14, might not be physically ready to start in Week 1 of next season. Who wins in Jones versus the Colts will have a huge bearing on Indianapolis's football future.