The Indianapolis Colts are officially placing the transition tag on quarterback Daniel Jones, according to a report from Adam Schefter of ESPN. The move comes as the team looks to secure the quarterback's future while maintaining salary cap flexibility heading into the new league year.
The transition tag for Jones is set at $37.833 million. This specific designation is more than $6 million cheaper than the standard quarterback franchise tag, providing the Colts with significant savings. However, the transition tag operates differently than the franchise tag regarding player movement and negotiations.
Under the terms of the transition tag, Daniel Jones has the opportunity to sign an offer sheet with another team. If Jones reaches an agreement with a different franchise, the Indianapolis Colts will have the right to match that offer sheet to retain his services. If the Colts decline to match a potential offer, they would not receive any draft pick compensation in return.
This is a developing story. Check back for updates.
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