Daniel Jones asked for his release from the New York Giants in November of the 2024 season, uncertain of whether he would start as an NFL quarterback for another team. One year later, as the unquestioned starting QB of the Indianapolis Colts, Jones is looking at a lucrative long-term deal.
Jones, the No. 6 overall pick in the 2019 draft, was able to score one post-rookie contract with the Giants. After a short stint with the Minnesota Vikings late last season, Jones found the right free-agent fit with the Colts.
Jones has gone from a contingency flyer to top backup to much more in the wake of beating out 2023 No. 3 overall pick Anthony Richardson for the starting job in the preseason.
Jones leads the NFL with 2,404 passing yards going into Week 10 while leading the Colts to a 7-2 record. He is on track to set career highs in yardage, passing touchdowns, completion percentage, passer rating, and yards per attempt. That is set to earn him a worthy contract extension from Indianapolis' officials in the 2026 offseason.
Here's breaking down what Jones' next deal will look like, first by looking at what he's earning for the Colts in 2025.
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Daniel Jones contract details
Jones signed only a one-year, $14 million deal with the Colts in March but with that contract, he was promised to have an open competition with Richardson. That reasonable investment has paid off big time as Jones has been an all-around hit in Shane Steichen's offense.
Although Jones has been lifted up by star running back Jonathan Taylor, an elite offensive line, top-end receiving weapons led by veteran wideout Michael Pittman Jr. And rookie tight end Tyler Warren, he's proved to be a massive system improvement over Richardson with his downfield passing and accuracy. The Colts still need to pay him in line with the market value of second-tier QBs.
As a Giant, Jones' rookie contract in 2019 was all guaranteed for four years, $25.66 million. Then he got extended for four years, $160 million in 2023.
From playing two years under that second contract, Jones made a combined $82 million in '23 and 2024. Adding his Colts' deal in 2025, Jones has averaged earning $32 million over the past three seasons.
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Daniel Jones contract projection
Jones ranks No. 21 among all quarterbacks in the NFL with his average annual salary of $14 million. Thanks to the recent career-saving turns for the Buccaneers' Baker Mayfield and the Seahawks' Sam Darnold, there is some established framework for the Colts to follow.
Mayfield, taken No. 1 overall by the Browns in 2018, went through a tough 2022 with the Panthers and Rams before turning into a consistent top starter in Tampa Bay. Darnold, taken No. 3 overall by the Jets in '18, went through the Panthers and 49ers before enjoying his transcendent 2024 starting for the Vikings.
Those paths sound similar to Jones, taken one draft later. Mayfield was rewarded with 3 years, $100 million,with $50 million guaranteed in 2024. Darnold, going into free agency with J.J. McCarthy set to take over in Minnesota, got 3 years, $100.5 million with $55 million guaranteed from Seattle in 2025.
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Just as Darnold mirrored Mayfield with his deal with a little natural bump for being a year later, Jones should build on that. It also helps that Mayfield and Darnold have kept up the strong play after their contracts, which should give the Colts more confidence that Jones will keep thriving for Steichen.
Although the league's top-paid QBs have taken five- or four-year deals, it would make sense for Jones to follow Darnold and Mayfield with three years. Mayfield averages $33.3 million a season, while Darnold went up to $33.5 million. Mayfield was guaranteed $50 million; Darnold got $55 million guaranteed.
That should put Jones in the neighborhood of 3 years, $105 million to average $35 million a season with $60 million guaranteed. That is a reasonable deal upcoming for the Colts, which had to come to mind when they took on the contract of star former Jets cornerback Sauce Gardner at the NFL trade deadline. The deal also caused the Colts to give up two first-rounders, which also suggests they are content with Jones to the point they don't need high future draft picks to help address QB.
Like the Buccaneers and Seahawks, the Colts are trying the new winning approach of not totally breaking the bank at QB to get more winning bang for the buck on a complete roster. Given Tampa Bay and Seattle are both 6-2, Indianapolis should feel like a smart copycat.