Agents: Colts to re-sign QB Daniel Jones to 2-year, $88M deal

indianapolis colts and quarterback Daniel Jones Agents Brian Murphy and Andrew Kessler told ESPN’s Adam Schefter that an agreement was reached on Wednesday on a two-year, $88 million contract that could be worth up to $100 million.

Agents told Schefter that Jones was fully guaranteed $50 million upon signing, with $60 million guaranteed for injuries.

“I’m very excited,” Jones said on “The Pat McAfee Show” on Wednesday. “Excited to be back and definitely grateful for the opportunity to be back with the Colts.”

Jones, recovering from a ruptured Achilles, is expected to be ready for the start of the regular season, and a source told Schefter he “absolutely” expects he will be ready for training camp.

Calling it a “process,” Jones said Wednesday that his rehabilitation is going well and that he aims to return in Week 1.

The Colts had Rarely used transition tag placed on Jones before the March 3 deadline. This allowed the Colts to match any offer sheet he signed. If he had played the tender, he would have been paid $37.833 million this season.

That decision allowed the top wide receiver Alec Pierce to test free agency, but the Colts were able to re-sign him to a four-year, $116 million contract at the beginning of the free agent negotiation period. Then they traded wide receiver Michael Pittman Jr.. till pittsburgh steelers$24 million saved against the salary cap.

Jones said Wednesday that he is “excited” that Pierce is back with the Colts, but is “angry” to see Pittman leave the team.

“He was a tremendous leader, obviously a great player, extremely productive and a guy you could count on,” Jones said. “Good luck to him. I know he’ll crush it with the Steelers.”

Although negotiations went on for a long time and the two sides were far and wide as of last week, according to sources, the Colts never considered another quarterback option. Internally, team executives had decided months earlier that moving forward with Jones – despite his injury – would be a cornerstone of their offseason planning.

The 28-year-old Jones had a successful season for the Colts in 2025 before sustaining a season-ending Achilles tear in December, leading an offense that flirted with franchise records during the first half of the season.

After signing with the Colts last offseason and winning the preseason position battle. Anthony Richardson Sr.Jones led an attack that was the league’s most explosive at the halfway point. The Colts were also leading 8–2 before Jones suffered a hairline fibula fracture and struggled and ultimately ruptured his Achilles in the other leg.

But their ability to bounce back in 2025 came after an ugly end New York GiantsWho drafted him sixth overall in 2019. The Giants released Jones in November 2024, ending his tumultuous tenure with the franchise.

His turnaround in Indianapolis last season was remarkable. Jones set new career highs in passing yards per attempt (8.1), QBR (63.0) and completion rate (68%) last season.

In his career, Jones has thrown for 17,683 yards with 89 touchdowns and 55 interceptions.