Daniel Jones is staying in Indianapolis.
The Colts agreed to a two-year, $88-million contract with the quarterback, per NFL Network's Tom Pelissero on Wednesday.
The deal has a maximum value of a reported $100 million. The $88 million is reportedly a record for a two-year deal.
Jones enjoyed early success in his first season with the Colts in 2025, leading the team to an 8-2 record while leading the league in passing yards.
His season ended with 3,101 yards, 19 passing touchdowns and five TDs on the ground, but the 28-year-old tore his Achilles in Week 13, leaving his future in doubt.
However, ESPN's Adam Schefter reported on Wednesday that Jones is expected to be ready for the start of the 2026 season.
The Colts placed the transition tag on Jones before free agency, meaning they had the right to match any offer on the quarterback, but would not receive any compensation.
Jones was selected sixth overall in 2019 by the Giants, and led the team to a post-season appearance in 2022 on the heals of a 9-7-1 season.
The Giants rewarded the Duke University product with a four-year, $160-million extension, but would part ways with Jones midway through the deal.
Indianapolis still has 2023 fourth-overall pick Anthony Richardson on the roster, although the two sides are reportedly working to facilitate a trade.
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