The Indianapolis Colts are placing the transition tag on quarterback Daniel Jones, according to a report from Tom Pelissero of NFL Network. The move comes as the organization looks to secure the veteran signal-caller's future while negotiations for a long-term deal remain ongoing.
The one-year transition tender is worth $37.833 million for the upcoming season. By utilizing the transition tag, the Colts gain the right to match any offer sheet Jones might sign with another team during the free agency period. Unlike the franchise tag, the transition tag does not provide the original team with draft pick compensation if they choose not to match an outside offer, but it ensures Indianapolis maintains the right of first refusal.
Per Pelissero, the two sides have been in active negotiations on a multiyear contract, and those discussions are expected to continue despite the tag being applied today. Jones has been a primary focus of the Colts' offseason strategy as the franchise seeks stability at the quarterback position.
This is a developing story. Check back for updates.
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