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Colts using transition tag on Daniel Jones

The Colts used a $37.8 million transition tag to retain matching rights for Daniel Jones amid ongoing contract talks, saving $6 million compared to the franchise tag.

  • On Tuesday, the Indianapolis Colts placed a transition tag on quarterback Daniel Jones at the franchise/transition tag deadline, submitting the tender as the deadline loomed.
  • After failing to reach a deal, the Colts placed the transition tag on Jones to preserve the right to match any offer while multiyear contract talks continue.
  • The team saved about $6 million versus the franchise tag but has $33 million in available cap space, risking draft compensation, with the $37.8M transition tender set as the deadline approach.
  • The move frees the Colts to focus on Alec Pierce negotiations, with Chris Ballard and Shane Steichen positioned to field Jones as their starter.
  • With free agency opening next week, the Colts face a gamble using a transition tag strategy on Daniel Jones as a potential $40 million+ market looms.
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Sports Illustrated broke the news in New York, United States on Tuesday, March 3, 2026.
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