Daniel Jones should be considered the next man on deck as it relates to who the Indianapolis Colts sign, and that was the intention with last week's transition tag — the Colts want him as their starting quarterback for next season, and beyond.
Now, with Alec Pierce solidified and back in the mix with his new four-year, $116 million deal, Jones should be next, but not before the Colts have to clear some cap space. To be right with the cap by the start of the new NFL year (which officially begins March 11th), Indy had to move around some money, and so they did.
Now that that's completed, it would seem like the obvious next move is to get Jones signed for good. The Colts do not have stability at the quarterback position until they do, and Kyler Murray rumors are simply that: rumors.
Indianapolis Colts clear up $8.25 million in cap space after restructuring Bernhard Raimann's contract
Additionally, Anthony Richardson's time in Indy is all but over. Jones is the guy, and he'll be the guy officially soon, thanks to one contract belonging to someone who will protect Jones on the offensive line.
Bernhard Raimann is in the second year of a four-year, $100 million extension the Colts signed him to last offseason. Of Raimann's $13 million base salary for 2026, $11 million was converted into a signing bonus, which opened up $8.2 million in cap space the Colts desperately needed.
Transition tagging Jones last week put the Colts over the cap and allocated the $37.833 million Jones would earn if he played on the tag onto the cap right away. GM Chris Ballard wants a new deal with Jones, and he is working toward a long-term one that would make Jones Indianapolis' quarterback for good.
Raimann's new restructuring of his contract wasn't the only move the Colts made to provide themselves with some cap space, as trading away long-time Colts wide receiver Michael Pittman Jr. to the Pittsburgh Steelers also helped save roughly $28 million going into next season. Trading Zaire Franklin to the Green Bay Packers also played a role.
As for Raimann, who has played well at offensive tackle for the Colts since being drafted by them in the third round of the 2022 NFL Draft, his restructured contract will change the Colts' cap hits over the next four seasons: $9,261,200 (2026), $30,605,200 (2027), $26,917,200 (2028), and $31,261,200 (2029).
Once Jones is signed long-term, he'll likely own the largest contract on the team, but that's what Ballard will have to do to keep Jones in the building for good. Jones turned his NFL career around in his first season with Indy before tearing his Achilles mid-season last year. He threw for 3,101 yards and 19 touchdowns.
Through the season's first 13 games, Jones was a league leader in those categories for quarterbacks and had the Colts on a playoff trajectory. The hope is that he will be ready for next season's start, but first, he'll need a new contract. With the Colts in a better cap situation today, there's no reason why it can't be done.