It could prove costly — literally — that the Indianapolis Colts didn’t trade Daniel Jones before Tuesday’s deadline.
The reality, though, is that as soon as the Colts gave Jones a two-year, $88 million contract, there wasn’t ever going to be a cheap way to get out from under that.
Their next choices will arrive soon enough, but for now, Jones remains with the Colts. He’s going to play out the rest of the season for Indianapolis, which seems likely to start him most of the way but could also give a look to Anthony Richardson and/or Riley Leonard.
The 2027 season will be the one that calls into question whether Jones should still be around for the starting gig or not.
It’s a decision the Colts will have to make with a lot of financial implications in mind.
Daniel Jones Contract Decision
Jones’ contract isn’t team-friendly unless he turns into a legitimate starting quarterback again. If his struggles continue for the rest of the season, the Colts are going to have a tough call to make.
In a new article on Wednesday after the deadline, ESPN’s Dan Graziano broke down a lot of the financials in a helpful way:
Jones, who turns 30 next May, will be a decision for the incoming GM and (possibly) next head coach to make in the offseason. He’s scheduled to earn $38 million in 2027. None of that is guaranteed at the moment — $10.51 million of it becomes fully guaranteed if he’s still on the roster on the fifth day of the 2027 league year. If Jones finishes the season playing well, and the team can legitimately talk itself into the idea that he’ll be better next year further removed from his Achilles injury, that price could make him an attractive option. If not, Indianapolis can cut him without too much pain. It would take on $35.2 million in dead money cap charges in 2027, but that’s not as intimidating a number as it used to be.
Essentially, the Colts aren’t going to avoid most of Jones’ money, but they do get a bit of savings if they get rid of him between the end of this season and the start of next season.
Other QB Options
The Colts’ other two quarterbacks are Richardson, who is a free agent after the season, and Leonard, who is in his second year after being a sixth-round pick.
The reality is that Indy’s QB of the future might not be on the roster right now.
The best thing they can do the rest of the season is evaluate who they have so they know how to proceed in the offseason.
Colts Face $35.2 Million Daniel Jones Decision After Trade Deadline