Colts place transition tag on Jones after breakout season

Jones, who spent his first six seasons with the New York Giants before joining Indianapolis, started 13 games in 2025, passing for 3,101 yards and 19 touchdowns before a season-ending injury. The transition tag, valued at $37.833M, is more than $6M cheaper than the quarterback franchise tag.

The tag allows Jones to negotiate with other teams while giving the Colts the right to match any offer sheet he signs. He was on pace to surpass career bests in passing yardage and touchdowns before his injury, while also recording a career-high 68% completion percentage to go with 164 rushing yards and five scores on the ground.