Former Pro Bowl QB 'Has Interest' in Colts; Should It Be Mutual?

The Indianapolis Colts have sold themselves on Daniel Jones returning as their starting quarterback in 2026.

Owner Carlie Irsay-Gordon retained head coach Shane Steichen and GM Chris Ballard, based on the team's hot 8-2 start last season before they lost the final seven games and missed the playoffs. Jones was a significant reason why the Colts got off to such a strong start, but his circumstances were also a big reason for their downfall.

After the veteran revived his career on a one-year deal with the Colts in 2025, he suffered a season-ending Achilles injury that helped render the team winless in his absence. His recovery will keep him out all offseason, while the team is optimistic he'll return for training camp.

With Jones nearing free agency, the Colts placed the transition tag on him on March 3, a one-year, $37.8 million offer that doesn't lock him in but allows the Colts to match any offer he receives from another team.

The Colts continue to work on a multi-year deal for Jones rather than settling on the tag, but things can always fall through. What if the Colts get outbid for Jones, and they're on the QB hunt once again? Even if Jones does return, do they want to add another veteran for security because of Jones' injury?

One significant option has developed over the last week, as the Arizona Cardinals released their former No. 1 overall pick, Kyler Murray. Reportedly, Murray could see himself in Indianapolis.

"I have heard Murray has interest in Indy," SI.com's Albert Breer wrote this week.

You may ask yourself on what planet the Colts think they could afford both Jones and Murray, but it's actually quite simple.

"Murray isn't a typical free agent, though," ESPN's Ben Solak writes. "He has been cut with $36.8 million in guarantees remaining on his contract, and that guaranteed money has offset language. Any money on a new deal with another team would just be subtracted off what the Cardinals already owe, giving Arizona relative cap relief. For that reason, he'll sign a veterans minimum contract for $1.3 million with whatever team he joins, forcing the Cardinals to pay out the remaining $35.5 million Murray is due."

In all likelihood, the Colts wouldn't sign both Jones and Murray. If they really want Jones to be their quarterback, then you don't invite the distraction of having a former Pro Bowl quarterback be the backup and take all of the offseason reps until Jones is ready to return.

Bringing in Murray would be because something went wrong on the Jones front, such as a team signed him to an offer sheet that the Colts declined to match, leaving them scrambling for a quarterback.

Would Murray fit with the Colts and Steichen, though?

At 5'10", 207, his size would surely be a deal-breaker for some teams. He also tore an ACL in 2022, limiting him to just 19 of 34 games between 2022 and 2023. His game has also been volatile since then, and the Cardinals elected to sit him out with a foot injury in 2025 after just five games in favor of quarterback Jacoby Brissett.

However, if the Colts are left quarterback-less, they could certainly do worse at the position if their goal is still to be as good as they can be.

As a former top overall pick, it was Murray's mobility, arm talent, and playmaking ability that sold Arizona on him to begin with. Although his game has been inconsistent — he has 63 touchdowns to 33 turnovers and a passer rating of 89.7 since 2022 — he's never been paired up with a playcaller such as Steichen before, which could turn out to be a positive pairing.

In all likelihood, the Colts will work out a multi-year contract with Jones to get him off the transition tag. That's their goal, anyway. However, if that were to go south, they at least know that they have decent options.