Colts QB Daniel Jones On Trade Radar?

With Chris Ballard fired and the team in a midseason freefall, it is worth wondering if the Colts will initiate or at least participate in conversations on Daniel Jones. Ballard extended Jones (two years, $88MM) after applying the transition tag, but similar to his performance after signing a $40MM-per-year Giants deal in 2023, the quarterback has not played well this season. At best, Jones is a stopgap as Indianapolis prepares a rebuild.

I mentioned during last week’s Trade Rumors Front Office subscriber chat Jones makes more sense as a trade piece this season compared to in 2027. He is tied to a $5.5MM base salary, and with nearly half the season elapsed, an acquiring team would barely owe $3MM to the veteran passer. Jones’ lofty 2027 compensation also does not feature a guaranteed salary, as he will see a $10.51MM guarantee vest on Day 5 of the 2027 league year. That opens the door to a QB-needy team eyeing Jones as a rental.

Jones is at least on the trade radar, ESPN.com’s Jeremy Fowler notes. The QB’s value certainly is not where it was at this point last year, and significant injury issues are on his resume. The Ravens could have been viewed as a suitor, but they are finalizing a Jacoby Brissett trade (which will reunite the demoted Cardinals signal-caller with Ravens QBs coach Israel Woolfork). The Vikings, as ESPN’s Adam Schefter mentioned during his most recent podcast, could also be a team that considers Jones.

Kyler Murray has not taken to Kevin O’Connell’s offense; Minnesota ranks 27th in scoring and 31st in passing yards. A key what-if reality sprang up last year, when it became known the Vikings out-offered the Colts for Jones — who had finished the 2024 season as a Minnesota Sam Darnold backup. Jones viewed the Indianapolis path as the clearer route to a starting role, given Anthony Richardson’s shaky standing with the organization, and was proven right. Though, much has changed in the Twin Cities since that decision.

The Vikings bailed on 2025 starter J.J. McCarthy after 10 starts. McCarthy lost a QB competition to Murray before preseason began and then could not hold off Carson Wentz for the backup gig. The Vikings cut bait by trading McCarthy to the Giants last month. McCarthy is now in place as New York’s Jaxson Dart replacement, usurping Jameis Winston. Minnesota is still bullish on Murray, but the team’s offense is well behind its dominant defense — a unit that has carried the team to 6-1.

Jones, 29, ranks ahead of only Justin Herbert in QBR this season. Murray (26th) is three spots higher. Many questioned the fit of the dual-threat passer in O’Connell’s offense, and Jones was in the HC’s system for several weeks after joining the Vikes’ practice squad after the Giants cut him in-season.

Considering Wentz’s presence in Minnesota for the past two seasons, it could be deemed a risky move on the NFC North team’s part to bring back Jones. But, as our Adam La Rose noted in his most recent PFR mailbag, the trade price might not be too high at this point.

If not moved, Jones probably runs the risk of being benched for guarantee protection. The Giants proceeded this way in 2024, parking Jones after the team struggled. The former No. 6 overall pick would have seen guaranteed money vest had he suffered an injury that prevented him from passing a 2025 physical. The aforementioned $10.51MM number could be an issue for the Colts, as it is guaranteed for injury. A benching due to that component — even with Richardson faceplanting in Shane Steichen’s offense in 2024 and requesting a trade this offseason — would be something to monitor, The Ringer’s Tom Pelissero adds.