Just as the NFL has set the official franchise and transition tag figures for the 2026 season, the Indianapolis Colts are trying to work through two stalled contracts.

As per an X post by Dov Kleiman made on Monday, the Colts are likely to put the franchise tag on quarterback Daniel Jones. If that falls through, the franchise also has to put up with wide receiver Alec Pierce to keep Jones.

“Daniel Jones and the Colts are nowhere close to agreeing on a contract extension, per Tony Pauline. Indy might be forced to place the franchise tag on Jones. That would mean they’ll have to agree to a long-term deal with WR Alec Pierce to keep him,” the post read. 

But how did the Colts find themselves in a pickle? Well, both Jones and Pierce want long-term deals. Unfortunately, the Colts’ cap ceiling doesn’t permit that. Since the franchise cannot afford to lose its quarterback, it is most likely compelled to use the tools to prohibit him from leaving. 

A franchise tag is a guaranteed, one-year contract that allows the team management to prohibit their players from signing with any other team under unrestricted free agency.

And according to NFL expert Tom Pelissero, the league has set the $43.89 million as the 2026 franchise tag value for a quarterback. And the value for a receiver is $27.29 million.

The Colts can't Lose Out on Daniel Jones

Daniel Jones led the Colts with an 8-2 start in the recent season before he sustained a season-ending Achilles injury.

Unfortunately, after that, the Indianapolis side came crashing down with seven straight losses. Despite all this, Jones threw 19 touchdowns for 3,101 yards against eight interceptions. 

On the other end, 25-year-old Pierce contributed with 47 receptions for 1,003 yards and scored six touchdowns. The Colts ended the season with an 8-9 record and third in the AFC South. 

The franchise needs to make a decision soon, as the deadline to apply for either tags is Tuesday, March 3rd. What do you think the Colts will do? Comment on your opinion!

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Written by

Akanksha Biradar

Edited by

Kalp Thaker