When it was reported that Indianapolis Colts had made a massive new deal with quarterback Daniel Jones, it was hard not to see the similarities.
It’s almost like a cycle at this point.
Jones received great reviews in 2019 after he had a great rookie season. In 2023, he received a massive deal after he had taken his New York Giants team to the playoffs. Now, in 2026, it seems to be happening again.
This version of Jones is probably the real deal.
A Fresh Start That Worked
Jones came to Indianapolis after having a rough ending in New York and a brief stint in backup duty with the Minnesota Vikings. This was not something that generated much hype at first.
This was not going to last for long.
Jones came in and assumed his role as starter and helped the Colts to a 7-1 start. He was playing some of the most confident football of his life. His throwing looked better, his decision-making was better, and his running was always a threat.
The offense was working well with several key players contributing:
Jonathan Taylor was back to his running form
Tight end Tyler Warren was a new reliable target for Jones
Alec Pierce had a breakout season at wide receiver
For a while, everything was going his way.
Then the Injuries Hit
The momentum, however, was short-lived.
Jones suffered a broken fibula in Week 11, and just two games later, his season came to a halt after suffering a torn Achilles. The Colts struggled to stay afloat without their starting quarterback.
The Colts ended the season with a 8-9 record and failed to make the playoffs.
Despite that, the front office has decided to stay with Jones and not start over.
Ballard and head coach Shane Steichen believe that the early part of the season proved what Jones can be.
The Contract
The Colts made their commitment to him clear by offering him a new contract.
Deal: 2 years, $88 million
Maximum value: up to $100 million with incentives
Guaranteed money: $60 million
Jones was already tagged in 2023, which meant the Colts would have to pay him a big salary in 2026 anyway. This deal simply stretches that out for them and gives them flexibility in the future.
If Jones plays well, he could make upwards of $45-50 million per year, which is still below the elite contracts for quarterbacks in the NFL.
If it doesn’t work out, they can get out from under him after 2026 without taking a big hit.
Why the Colts Believe
The numbers from Jones’ 2025 campaign are telling:
Jones’ average throw went 8.2 yards downfield, which is the highest average of his career. He was also on track to have the best numbers of his career in intermediate and deep completions before he got hurt.
On throws between 10 and 19 yards, Jones had a 116.7 passer rating, which puts him among the best quarterbacks in football.
So, he wasn’t just playing it safe and moving the chains; he was launching it downfield and making plays.
Questions Still Remain
Still, there are reasons to be cautious.
Jones struggled during a rough stretch before his season ended. Over four games, he had seven turnovers, including multiple fumbles.
Jones’ success came with good protection from his offensive line. With the loss of tackle Braden Smith, that may not be the case next season.
On top of that, there is already a cost to be paid with the Colts giving up draft picks to acquire star cornerback Sauce Gardner. That means there is less flexibility to rebuild if things don’t work out.
And of course, there is the Achilles injury – no small feat to overcome for a quarterback who needs to be mobile.
Final Grade
The Colts are still searching for stability at the position since Andrew Luck retired. Daniel Jones proved himself in 2025 to convince the Colts that he is worth a second chance.
The contract is a gamble, but it is a calculated gamble rather than a reckless one. If Daniel Jones is healthy and continues to grow as a player, then the Colts may finally find their long-awaited franchise QB.
Grade: B+
