Would Colts Franchise Tag Daniel Jones? NFL Insider Explains Cost, Options amid Injury

The Indianapolis Colts may pivot from their original plans for quarterback Daniel Jones in the wake of his devastating injury.

Jones reportedly tore his Achilles in Sunday's 36-19 loss to the Jacksonville Jaguars, ruling him out for the Colts' final four games plus a big chunk of the 2026 offseason.

The MMQB's Albert Breer reported Monday that "Indianapolis's expectation, even without a contract in place, was to make Jones the team's quarterback for the foreseeable future." The NFL insider wrote the Achilles injury is obviously an unforeseen variable:

"The Colts could franchise tag Jones in 2026 to see how the rebab goes, but that won't be cheap. Last year, the quarterback franchise tag number was $40.241 million. Next year, it projects to be around $46 million. That's not only triple what Jones is making now, it'd also give Jones the leverage to land a deal in the range of $50 million per year. Are the Colts prepared to do that sort of a deal with a quarterback coming off an Achilles tear? Or would they rather pay the lump sum? Or maybe try to find common ground at a lower number by letting Jones hit the market?"

Jones was on pace to secure a nice payday, be it of the one-year variety with the franchise tag or a long-term contract. Through Indy's first 12 games, he threw for 3,041 yards and 19 touchdowns with a 101.3 passer rating.

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The 28-year-old was in the midst of his best season, and he's entering a free-agent class with a dearth of good QB options. Now, his outlook is in flux.

Jones fell into the Colts' laps as a viable solution beyond 2025. They didn't use a sixth-round pick on Riley Leonard with any grand designs for the future, while Anthony Richardson Sr.'s freak orbital fracture has been a setback in his development.

Striking some middle ground financially with Jones on a short-term deal is the optimal outcome for Indianapolis. Should he and his agent seek more than that, general manager Chris Ballard may have to walk away.