With NFL free agency on the horizon, the Indianapolis Colts and quarterback Daniel Jones have been in negotiations on a multi-year deal, according to Tom Pelissero.
“It is also a big week for the Colts and Daniel Jones,” Pelissero said on Monday, “who’ve been in negotiations on a multi-year contract extension to keep him in Indianapolis. The sides, I would anticipate, meet face-to-face this week. Jones wants to stay here in Indianapolis. The Colts want to keep Jones, who was playing his best football prior to injuries last year, including the Achilles tear he’s rehabbing from.”
Since the 2025 season ended, both the Colts and Jones have made it clear that they would like to run it back for not only the 2026 season but beyond.
However, a potential hurdle may come in negotiations, specifically, what does Jones’ next deal look like with him coming off a major injury?
“The question really is, what exactly is that number that makes sense on a multi-year deal?” Pelissero added. “If the sides cannot come to an agreement on that, a tag is an option, whether that’s the franchise tag or the transition tag. The deadline for applying that is March 3rd, just two days after the combine ends. So those conversations this week are going to be pivotal to deciding which direction this thing goes in Indianapolis.”
It’s a big week for Maxx Crosby and the Raiders, who continue to discuss his future, as well as Daniel Jones and the Colts, who have eight days to strike a deal or potentially tag him. @gmfb@nflnetworkpic.twitter.com/EfztRoorlh
— Tom Pelissero (@TomPelissero) February 23, 2026
The purpose behind using the franchise tag wouldn’t be for Jones to play the 2026 season on that deal. Jone is searching for a long-term contract, while the franchise tag won’t be a salary cap-friendly option for the Colts.
So, rather, it would prevent Jones from hitting the open market, thus extending the negotiating window for the two to reach a long-term deal.
Also, a part of this equation is wide receiver Alec Pierce.
“They also have another big-ticket free agent-to-be in wide receiver Alec Pierce, who Daniel Jones loves,” Pelissero added. “If Jones ends up getting a deal, then the tag would be an option if they can’t work out a deal with Pierce, who they’d also like to sign for the long-term.”
This article originally appeared on Colts Wire: Report: Colts and Daniel Jones negotiating long-term contract