Colts Transition Tag on Jones

The transition tag, valued at $37.833 million, is over $6 million cheaper than the quarterback franchise tag. While it allows Jones to sign an offer sheet with other teams, the Colts retain the right to match any offer and keep their starting quarterback.

Jones had a career revival in Indianapolis, passing for 3,101 yards and 19 touchdowns in 13 games before a season-ending injury. He also added 164 rushing yards and five touchdowns on the ground, with a career-high 68% completion percentage.