The Colts are using the transition tag on QB Daniel Jones, according to multiple reports. That'll pay Jones $37.8 million on a one-year deal. That's about $6 million less than the franchise-tag number for QBs -- but gives Jones the chance to negotiate a long-term deal with other teams. The Colts would have the chance to match any deal and retain Jones. Per NFL Network's Ian Rapoport, this is the first time the transition tag has been used on a QB since Jeff George in 1996.
We're a little surprised the Colts didn't just pony up another $6 million for the franchise tag. They must be confident that no team will come in with a huge offer to Jones.
And that seems like a safe bet considering the December Achilles tear that Jones is working back from. He's tentatively expected to be ready for Week 1, but the rehab will certainly impact his offseason, making him less appealing to other teams.
We'll keep tabs on any potential offers to Jones -- and his status coming off that injury. We don't expect to see his usual mobility at any point in 2026, which dents his fantasy appeal.
Jones is going in Round 13 as the 28th QB off the board in early best-ball ADP. He sits 22nd in our 2026 QB rankings.
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