Jones, who had a career revival after joining the Colts this past year, was on track for his best professional season before a season-ending injury. In 13 games, he passed for 3,101 yards with 19 touchdowns while achieving a career-best 68% completion percentage. He also contributed 164 rushing yards and five touchdowns on the ground.
The transition tag, valued at $37.833M, provides the Colts with flexibility to match any offer sheet Jones might receive from other teams. This move comes as Jones seeks to leverage his improved performance following six seasons with the New York Giants before joining Indianapolis.