Why Daniel Jones' new contract with Colts is actually a bargain deal for Indianapolis

Daniel Jones is locked into the Indianapolis Colts for two more seasons. Jones, who signed a one-year, $14 million deal to join the team in March 2025, got a new 2-year, $88 million contract to remain their starting quarterback about one year later.

Jones, after being transition-tagged as a place-holder at $37.833 million for 2026, now gets a second year to average $44 million per season. The deal includes $60 million guaranteed, or 68 percent of what he's set to earn.

Should Jones hit incentives, he can make up $100 million, pushing up the average to $50 million a season. Given that Jones got a $30 million seasonal raise despite ending his best NFL career season with a torn Achilles' might seem like the Colts overspent. In reality, Jones ended up with a team-friendly short-term deal.

Here's breaking down where Jones' true bargain contract ranks among other starting QBs:

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Daniel Jones' average annual salary vs. other QBs.

Jones' $44 million per season puts him in the middle of the pack at No. 16 among quarterbacks. He's looking up at Patrick Mahomes ($45 million from his Chiefs' 10-year deal) and is just ahead of Matthew Stafford ($42.5 million at the end of a two-year deal). 

Although Jones isn't providing the ultra-cheap bonus he did at this time last year, when it wasn't certain he would beat out Anthony Richardson for the No. 1 job, that's still a reasonable deal in relation to the QB market and a much-increased $301.2 million league-wide salary cap

Daniel Jones' guaranteed money vs. other QBs

Jones ranks even lower among quarterbacks with his $60 million in guarantees, at No. 17. Again, in relation, Mahomes was guaranteed $141.181 million on his deal, while Stafford, getting two years at $88 million, saw $80 million guaranteed (91 percent). That Jones didn't join the 15 quarterbacks who have $100 million or more guaranteed is surprising. 

The Colts didn't need to connect too long to Jones and might have ended up saving big-time because of the Achilles' injury, creating a discount vs. the market.

MORE: Why Colts paid hefty price to keep Daniel Jones

Daniel Jones' overall contract value vs. other QBs

At $88 million over two years, Jones ranks 18th among quarterbacks. He is first person out of the $100 million club, behind the Buccaneers' Baker Mayfield. It cannot get much lower than that for a strong veteran starting QB. Not far behind Jones are rising star QBs on their rookie contracts, including the past two No. 1 overall picks, Cam Ward and Caleb Williams.

The Colts couldn't afford to take a chance on other QB avenues. Coach Shane Steichen and GM Chris Ballard, who both remain on the hot seat, had evidence for much of last season that Jones gave Indianapolis the best short-term chance of winning big enough to make the playoffs. Now the question is whether the Colts can put together the new-look team around him to go back into AFC contention.