The Indianapolis Colts have officially reached a contract agreement with quarterback Daniel Jones, according to Ian Rapoport of NFL Network. The deal comes after the team previously applied the transition tag to the veteran signal-caller earlier this offseason.
Per @RapSheet, the new arrangement will see Jones earn $50 million in the first year of the deal. This contract structure was reportedly the plan all along for the Colts, who utilized the transition tag as a placeholder to ensure a long-term deal could be finalized. The agreement provides Jones with significant upfront capital and the opportunity to test the market again or negotiate a new extension in the future.
By securing Jones under this new deal, the Colts solidify their quarterback position heading into the upcoming season. Jones, who has been the subject of much discussion throughout the spring, now has a clear path forward with the franchise after moving past the restrictions of the transition tag.
This is a developing story. Check back for updates.
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