Feb. 9, 2026, 2:01 p.m. ET
The Indianapolis Colts want Daniel Jones back, and Daniel Jones wants to be back with the Colts.
So why might the franchise tag still be in play — something that Tom Pelissero reported recently as an option?
Teams can use the franchise tag once per offseason on a pending free agent to prevent them from hitting the open market.
If applied, a franchise tag is essentially a one-year deal. The contract amount is predetermined and takes into account which position the tagged player plays.
According to Over the Cap, “franchise tag figures are based upon the top five salaries at each respective position.”
Expert NFL picks: Exclusive betting insights only at USA TODAY.Why would the Colts franchise tag Daniel Jones?
While the Colts and Jones want to work out a new deal, determining the length of the deal and the amount could be a hurdle with Jones coming off a major injury.
With that said, Ballard has already stated that he is “confident” in Jones’ ability to recover from the Achilles injury and bounce back.
This is where the franchise tag would come into play. If utilized, it would essentially extend the negotiation window.
Rather than the two sides needing to reach an agreement by March 9th, when free agency begins, Jones would be off the open market, allowing him and the Colts to continue negotiating without other teams being in the mix.
We saw the Colts do this in 2024 with Michael Pittman. The franchise tag was applied, and roughly a week later, an extension was reached.
So, my guess is that if the franchise tag is used, the goal isn’t to have Jones under contract for only the 2026 season — that’s not what Jones wants, and it’s not a cap-friendly option for the Colts.
Instead, the franchise tag could be part of the process that comes with working towards a multi-year deal.