Colts Place Transition Tag on QB Jones

The transition tag, worth $37.833 million, is more than $6 million cheaper than the current quarterback franchise tag price. This move allows Jones to sign an offer sheet with other teams, but gives the Colts the right to match any offer if they wish to retain their starting quarterback.

Jones had a career revival with the Colts in 2025, starting 13 games and passing for 3,101 yards with 19 touchdowns before a season-ending injury. He also recorded a career-best 68% completion percentage and added 164 rushing yards with five touchdowns on the ground.