Jacoby Brissett, Colts Agree to Reported 2-Year, $30M Contract

Joseph Zucker@@JosephZuckerFeatured Columnist

CINCINNATI, OHIO - AUGUST 29:  Jacoby Brissett #7 of the Indianapolis Colts warms up before the game against the Cincinnati Bengals at Paul Brown Stadium on August 29, 2019 in Cincinnati, Ohio. (Photo by Andy Lyons/Getty Images)
Andy Lyons/Getty Images

The Indianapolis Colts and quarterback Jacoby Brissett agreed to terms on a reported two-year, $30 million extension.

Indianapolis confirmed the deal Tuesday after NFL Network's Ian Rapoport first reported terms of the agreement Monday. Rapoport reported Brissett will receive $20 million guaranteed.

The Boston Globe's Ben Volin clarified the new contract will replace his previous deal and go into immediate effect. Brissett was in the final year of the contract, which counted for $2.025 million against the salary cap.

The 26-year-old will open the 2019 NFL season as the Colts' starting quarterback following the sudden retirement of Andrew Luck.

Rapoport reported earlier in the day Indianapolis signed Brian Hoyer to a three-year, $12 million deal to solidify a backup plan behind Brissett.

The 26-year-old was the starter in 2017 when Luck was still recovering from shoulder surgery. He threw for 3,098 yards, 13 touchdowns and seven interceptions while completing 58.8 percent of his passes. Football Outsiders ranked him 28th in DYAR (defense-adjusted yards above replacement) among 35 quarterbacks with at least 200 attempts.

Wrapping up a short-term extension now makes sense for the Colts. The cost to re-sign Brissett would've likely climbed higher than $15 million annually if he performed well in extended action under center.

Tom Pelissero @TomPelissero

Security for the #Colts, too, knowing they’re not staring down a franchise tag in March if Brissett plays like they think he can. https://t.co/p48w4ftXFV

ig: josinaanderson @JosinaAnderson

Should Jacoby Brissett have waited to sign a QB deal? His value may've increased more in line w/ the market if he could get on a carpet ride this season. Smart of the team to do it now, as many people are texting me, before he gets too expensive. Brissett not listed w/ an agent.

If anything, Indianapolis comes away as the winner from this move. Brissett's average salary will rank 19th among quarterbacks, and many of the players below him are QBs still on their rookie contracts.

In the event Brissett isn't ultimately the long-term successor to Luck, going in a different direction after the 2019 or 2020 seasons shouldn't be too difficult for the Colts.

Brissett might have cost himself some money down the road by agreeing to terms now, but the door will be open for him in two years to either get a hefty raise via the franchise tag or a longer, more lucrative extension.