PFT has confirmed that the Colts and quarterback Daniel Jones have struck a deal on a two-year contract that will replace his transition tag for 2026. The contract has a base value of $88 million, roughly $5 million more than playing for two years under the transition tag ($37.

The Indianapolis Colts agreed to a two-year, $88 million contract with quarterback Daniel Jones on Wednesday.

Jones will also receive $100,000 in bonuses for each game the team wins with him playing at least 50 percent of snaps — and up to a total of $6 million in incentives.