Daniel Jones Gets Colts Transition Tag Amid Injury Rehab, How Does It Impact NFL Free Agency?

The Indianapolis Colts placed the $37.8 million transition tag on quarterback Daniel Jones ahead of NFL free agency on Tuesday.

As a result of the tag, the Colts have the right to match any contract offer sheet in free agency, per NFL Network's Tom Pelissero.

Jones enjoyed a career resurrection in Indianapolis before suffering a season-ending torn Achilles on Dec. 7 against the Jacksonville Jaguars.

Over 13 games, the former Duke star completed 68.0 percent of his passes for 3,101 yards, 19 touchdowns and eight interceptions. He threw for 8.1 yards per attempt and finished the year with a 100.2 quarterback rating, good enough for ninth in the NFL. He also added 164 rushing yards and five more scores on the ground.

Thanks in large part to Jones' success, the Colts began the year with a 7-1 record and looked like legitimate Super Bowl contenders while averaging nearly 34 points per game.

However, the Colts struggled in their final nine games. They split a pair of contests before losing their last seven matchups to end at 8-9.

Jones had slowed down a bit in his final three full games, throwing for just 190.7 passing yards per game. Still, the Colts remained firmly in the playoff picture going into Week 14 against the Jags.

Sadly, Jones suffered a non-contact Achilles tear while throwing a pass during the Jags game, and he was ruled out for the season.

It was a devastating blow for a player who had dealt with much adversity during a career that began in April 2019, when the New York Giants selected him with the No. 6 overall pick.

Jones experienced some highs in New York, including tossing 24 touchdown passes in his rookie year and leading the Giants to their first playoff win in 11 seasons in the 2022 campaign. He also dealt with some struggles and big lows, including a season-ending torn ACL in 2023 and a midseason benching and subsequent parting of ways in 2024.

In Indianapolis, Jones showed why the Giants had such great belief in him in 2025. The season didn't end according to plan, but there's certainly hope he can return to form again.

Now, only time will tell if Jones will get an offer sheet from another or if he and the Colts reach a new deal before free agency.