The Giants paid dearly for overvaluing Daniel Jones‘ 2022 season. After declining Jones’ fifth-year option in 2022, the Giants gave him a $40MM-per-year deal minutes before the March 2023 franchise tag application deadline. This led to a Saquon Barkley franchise tag and 2024 exit.
Jones faceplanted on the second contract, struggling to both stay healthy or approach his previous play level. The Giants dropped Jones during the second season of the deal, but the former No. 6 overall pick found new life in Indianapolis. Given a one-year, $14MM accord to compete with Anthony Richardson, Jones overtook the erratic passer and had the Colts 8-2.
Before Jones’ Achilles tear, he had been playing through a fractured fibula. Both issues will factor into Jones’ free agency, but the Colts have interest in bringing him back. Jones is also interested in staying, though he did couch his statement on the topic ahead of his third free agency bid.
“I’d love to be back here,’’ Jones said, via Fox 59’s Mike Chappell. “I’ve enjoyed being here, working with the coaching staff here, the players. I think it’s a great organization and I’ve enjoyed being here. Obviously, there’s a business side to it and I understand that.”
Jones, 28, did well on the business side when he was last in a commanding leverage position. An asking price north of $45MM per year emerged — back when the $50MM-AAV QB club had not formed — and the Giants made him their top 2023 priority. It would not seem Jones would have as much leverage this time around, but the Colts traded their 2026 and ’27 first-round picks for Sauce Gardner at the deadline. Indianapolis did so while Jones was healthy, but the team now lacks key ammo to chase a younger option.
Carlie Irsay-Gordon announced the Colts would retain GM Chris Ballard and HC Shane Steichen, and Chappell notes “every indication” points to the duo being a package deal with Jones. Even with the Achilles tear, Jones should possess some leverage ahead of negotiations. The Colts are not believed to have begun those, but with Ballard receiving assurances he is staying, those should begin soon. Indianapolis’ issues finding a long-term signal-caller post-Andrew Luck also stand to help Jones in free agency.
Injury trouble is starting to pile up for Jones, though. He battled a significant neck issue in 2021 and suffered an ACL tear in 2023. The ACL tear came after more neck trouble sidelined him early in the 2023 season. With the fracture and Achilles tear now on Jones’ medical sheet, it would stand to reason the Colts could work out a team-friendlier deal. But the Vikings are expected to pursue a veteran QB to compete with J.J. McCarthy. Considering Minnesota made Jones an offer that was believed to be higher than what Indianapolis submitted, it will be interesting to see if the NFC North club is back in on the player it briefly employed to close the 2024 season.
Jones is expected back by training camp, and the Colts should be expected to re-sign him unless a major course change commences, ESPN.com’s Stephen Holder notes. Where Jones’ asking price settles will be one of this offseason’s key storylines.