The Indianapolis Colts are using the transition tag ahead of next week's opening of NFL free agency.
INDIANAPOLIS, Ind. — The speculation is over, as the Indianapolis Colts have officially elected to use the transition tag on quarterback Daniel Jones, keeping him from hitting the open market next week on March 9.
The team announced the move on Tuesday afternoon shortly before the NFL's deadline to tag players.
The two sides will continue to negotiate a new multi-year contract. Jones' 2025 season ended prematurely due to a torn Achilles in Week 14, which likely makes the contract talks less cut-and-dry.
The transition tag, which hasn't been used on a quarterback in the NFL since 1996, is a one-year deal worth $37,833,000. Other teams may negotiate with Jones beginning next week, but the Colts have the right to match any offer.
The Colts last used a tag in 2014 when they used the franchise tag on wide receiver Michael Pittman Jr. They agreed to a multi-year deal with him shortly after.
Jones signed a one-year contract with the Colts last offseason worth up to $18 million. He resurrected his career after being released by the New York Giants midseason in 2024, before a short stint on the Minnesota Vikings' practice squad.
Jones reached several personal bests in 2025 before his season ended, although a fractured fibula hampered him in the weeks leading up to the Achilles.
His win percentage (61.5%), completion percentage (68.0%), passing yards per attempt (8.1), passing yards per game (238.5), passer rating (100.2), and QBR (63.1) were all single-season career highs. Jones was also on pace to set new marks in completions, pass attempts, passing yards, passing touchdowns, and passing first downs.
While the Colts will continue to work toward a long-term agreement with Jones, they will also continue to do so with free-agent-to-be wide receiver Alec Pierce.
Both Jones and Pierce have expressed interest in returning to Indianapolis, particularly to continue playing together.
The NFL's free-agent negotiating window goes from 12:00 p.m. ET on Mon. March 9 to 3:59 p.m. ET on Wed., March 11. At 4:00 p.m. ET, teams may begin signing new outside players.
The Colts may agree to new multi-year deals with Jones and Pierce at any time; however, as both would be returning players.
Jake Arthur has been covering the Indianapolis Colts for over a dozen years and is a member of the PFWA. He's one half of the Locked On Colts podcast and has worked for the Colts' official website, On SI, and more. You can follow him on X @JakeArthurNFL.