Colts Offer Massive Contract to Daniel Jones, But He Turns It Down

Jones believes he's worth $50 million per season, rejecting Colts' $100.5 million deal

Published on Mar. 9, 2026

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Daniel Jones, the quarterback for the Indianapolis Colts, has turned down a massive contract offer from the team worth around $100.5 million over three years. Jones and his camp believe he deserves a deal closer to $50 million per season due to the leverage he would have with a franchise tag. The Colts have instead opted for the rarely used transition tag worth $37.8 million, allowing Jones to negotiate with other teams while the Colts can match any offer.

Why it matters

This contract dispute highlights the rising costs of top-tier quarterbacks in the NFL. Jones is looking to cash in after a strong first season with the Colts, while the team is factoring in his recent Achilles injury and dip in production. The transition tag gives Jones flexibility to explore other options, but also risks the Colts missing out on a less-costly deal now as quarterback salaries continue to escalate.

The details

The Colts offered Jones a deal in the range of Sam Darnold's recent contract with the Seahawks - three years, $100.5 million. However, Jones and his representatives believe he deserves closer to $50 million per season due to the leverage he would have with a franchise tag. Rather than use the $43.9 million franchise tag, the Colts opted for the $37.8 million transition tag, which allows Jones to negotiate with other teams while the Colts can match any offer. Jones, 28, is coming off a resurgent first season with the Colts where he started 7-1 before a late-year injury and dip in production.

  • In late 2025, Jones suffered a torn right Achilles injury late in the season.
  • On March 9, 2026, the Colts placed the $37.8 million transition tag on Jones.

The players

Daniel Jones

The 28-year-old quarterback for the Indianapolis Colts, who is looking to cash in on a strong 2025 season after being drafted in the first round by the Giants.

Indianapolis Colts

The NFL team that offered Jones a massive contract extension, but ultimately used the transition tag to retain his rights for the 2026 season.

Sam Darnold

The Seattle Seahawks quarterback who recently signed a three-year, $100.5 million contract, which was the basis for the Colts' offer to Jones.

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What they’re saying

“He now believes he's a $50 million quarterback.”

— Daniel Jones (Sports Illustrated)

“It makes sense for the two parties to find middle ground.”

— Albert Breer, Sports Illustrated Reporter (Sports Illustrated)

What’s next

The transition tag allows Jones to sign with other teams by July 21 before he can only negotiate with the Colts. This year's free agent quarterback class is considered weak, which could increase interest in Jones.

The takeaway

This contract dispute highlights the rising costs of top quarterbacks in the NFL and the difficult balance teams must strike between paying market value and managing long-term salary cap implications, especially when a player is coming off an injury.