Contract tag drama unfolds as the Colts navigate former Duke quarterback Daniel Jones's uncertain future, impacting key receiver Alec Pierce's deal.
The Indianapolis Colts made it a priority to bring back former Duke star quarterback Daniel Jones for the upcoming season.
After being released by the New York Giants in 2024 and spending a brief time with the Minnesota Vikings, the Colts took a chance on the former first-round quarterback last offseason by giving him a one-year deal.
Jones had the Colts in playoff contention before suffering a season-ending torn Achilles injury.
Per multiple reports, Jones and the Colts were not close to coming to an agreement for a new contract. On Tuesday, Indianapolis made the decision to apply the transition tag to the quarterback.
"Another tag: The Colts are placing the transition tag on QB Daniel Jones, per sources," ESPN's Adam Schefter posted on X.
"The transition tag is $37.833M, more than $6M cheaper than the QB franchise tag, but gives Jones the opportunity to sign an offer sheet with another team that Indianapolis would then have the right to match."
With Jones signing the transition tag, it made it unlikely the Colts would apply the transition tag to wide receiver Alec Pierce.
Indianapolis hoped to make a deal with Jones and apply the franchise tag or transition tag to Pierce. Pierce wanted to know what his options were at quarterback before signing a long-term deal.
Pierce, a second-round pick by the Colts in 2022, was the leading receiver for Indianapolis in 2025 with 47 receptions for 1,003 yards and six touchdowns.
The former star for Duke now has to hope the Colts can close the deal on Pierce before he loses his best target for next season.
Jones took a gamble by asking for more money. It's possible the veteran quarterback could have a down year in 2026 if his best target chooses to go elsewhere in free agency.
In addition to Pierce's future being uncertain, quarterbacks don't typically have their best seasons the year after returning from an Achilles injury.
Jones hasn't made life easy for himself or the Colts in the offseason.
However, he assured himself of making $37.8 million for the upcoming season, which isn't a small sum of money for a quarterback not many teams wanted to take a chance on after the Giants gave up on him.