Colts reject Dolphins' trade offer for Jonathan Taylor, two other teams in the running

The Dolphins continue to "engage the Colts in negotiations" but will have competition with at least two other teams to acquire Taylor's services. Jackson reports the Denver Broncos and Chicago Bears have also expressed interest in the Colts running back. 

ESPN's Stephen Holder previously reported that the Colts are seeking a first-round pick or a "package of picks worth similar value" in exchange for Taylor. Thus far, Jackson notes that no team is believed to have met Indianapolis’ steep asking price. 

The Colts granted Taylor permission to seek a trade earlier this week but with one glaring asterisk. Indianapolis has placed a Tuesday deadline on Taylor to find a suitable trade partner. Tuesday is a noteworthy day in the NFL, as all 32 teams are required to trim their roster to 53 players. Barring a trade, it also marks the day the Colts would need to decide on Taylor's status heading into the regular season. 

The former first-team All-Pro is currently on the active/physically unable to perform list. If the Colts don't activate him before the Tuesday deadline, Taylor will be placed on the reserve-PUP list and be ineligible to play the first four weeks of the regular season.

Taylor, 24, is coming off an injury-plagued 2022 campaign but is just one season removed from leading the NFL with 1,811 rushing yards and 18 rushing touchdowns. A second-round pick in 2020, Taylor is entering the final year of his rookie contract. According to Spotrac, the Wisconsin product is set to earn $4.3M in 2023, making him the 19th highest-paid running back on the season, behind the likes of Broncos backup Samaje Perine ($4.5M) and rookies Bijan Robinson ($13.7M) and Jahmyr Gibbs ($10.7).