Adam Schefter
@AdamSchefter
Another tag: The Colts are placing the transition tag on QB Daniel Jones, per sources. The transition tag is $37.833M, more than $6M cheaper than the QB franchise tag, but gives Jones the opportunity to sign an offer sheet with another team that Indianapolis would then have the right to match.

Adam Schefter
@AdamSchefter
·
26m
Bengals DE Trey Hendrickson is not being tagged and now will become an unrestricted free agent.

Tom Pelissero
@TomPelissero
·
10m
The sides will continue to work toward a long-term deal with Daniel Jones. Meanwhile, the focus now turns to getting a deal done with Alec Pierce, who is set to be the top WR hitting free agency — if he gets there.

Spotrac
@spotrac
·
12m
QB Daniel Jones' $37.833M transition tag comes with a bit of risk, but for now, it acts as a placeholder deal to keep him off of the open market, while also securing their QB1 as they work to finalize a long-term extension with WR Alec Pierce.

https://x.com/JustinRTBColts/status/...887085328?s=20

Justin Aufiero
@JustinRTBColts
·
2h
Maybe
@Colts
can work something out here with Anthony Richardson involved?

Adam Schefter
@AdamSchefter
·
2h
Vikings are now open to trading Pro Bowl edge rusher Jonathan Geeenard, per sources.

They would like to keep Greenard, but they also have salary cap issues they’re working through that have led to these trade conversations.

Dianna Russini
@DMRussini
·
25m
Alec Pierce’s reps and the Colts continue to negotiate at this hour, one other note that helps Indy: Alec’s brother Caden, a standout basketball player for Princeton, recently transferred… to Purdue.

For those of you that are good with contracts and draft crap. If DJ does sign with another team, would we get a comp pick in next yrs draft?

Alas, a $37m deal with DJ now puts us over the cap by about $12m once in season amounts are factored in (slots 52 and 53 on roster, practice squad, rookie contracts over vet minimum, etc).

This, IMO, now means that it is either Alex Pierce or Michael Pittman on the Colts in 2026...unless Ballard does something out of character and signs AP to a ballooning contract with low money now and huge money later or re-structures MPJ the same.

Ugh...QBs make too much of the cap. If you have one of those elusive top 5 QBs then it is worth it. If you don't, then you are paying WAY too much of a premium in cap space for a tier 2 or tier 3 guy.

Honestly? I hope someone comes along and offers DJ a contract that we cannot match. We cannot tie up that much cap space in a guy who is not a true franchise QB.

(( And yes, some of you will argue that DJ is a true franchise QB and I will counter to say he is not. While he MAY develop into one, he is not right now and we will pay him as if he is. ))

No.

If we had Franchised tagged him, then yes.

But the Transisition tag does not give picks as compensation.

The Jets? :D. That is where QBs go to die.