The Indianapolis Colts are issuing the transition tag to quarterback Daniel Jones, according to Ian Rapoport of NFL Network. The one-year tender is set at a value of $37.8 million.
This move marks a rare piece of NFL history, as it is the first time since 1996 that a team has used the transition tag on a quarterback. The last instance occurred when the Atlanta Falcons applied the tag to Jeff George. Under the rules of the transition tag, Daniel Jones is permitted to negotiate with other teams and sign an offer sheet. However, the Colts retain the right of first refusal, allowing them to match any contract offer Jones receives on the open market.
Unlike the non-exclusive franchise tag, the transition tag does not provide the Colts with any draft pick compensation should they choose not to match an offer sheet from another franchise. The move ensures the Colts have the final say on Jones' immediate future while setting a significant $37.8 million salary floor for the veteran passer.
This is a developing story. Check back for updates.
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