Colts, RB Jonathan Taylor Have Discussed Extension

The seventh-year running back confirmed he and the Colts have engaged in discussions about what would be a second extension, ESPN.com’s Stephen Holder notes. Taylor signed a three-year, $42MM deal in 2023, providing a positive development at the RB position during a grim year. Lucrative deals for older vets have transpired since the Taylor pact, providing some optimism for the increasingly devalued job.

Taylor, 27, said this offseason he wanted to sign an extension and be a “Colt for life.” The former rushing champion is due a nonguaranteed $11.98MM base salary. With no guarantees left on Taylor’s contract, we will likely see more updates emerge from Indianapolis.

Taylor’s situation is, however, a bit clearer than it was in 2023. That year, the disgruntled running back used a 2022 injury as part of a hold-in strategy, and a battle with then-owner Jim Irsay became a key part of Taylor beginning the season on the Colts’ reserve/PUP list. Team and player agreed to the extension shortly before his Week 5 debut.

As I covered in a recent Trade Rumors Front Office post, Taylor profiles as a more realistic 2027 franchise tag recipient than Nelson. Not many players over 30 are tagged — A.J. Green (Bengals) was the last one cuffed back in 2020 — and Nelson’s tag salary would come in much higher. Taylor’s would land at $18.67MM due to the 120% rule. Nelson’s tag number would be poised to exceed $30MM. Given the wear and tear on RBs, going year-to-year with Taylor makes more sense than failing to reach an extension with a safer bet at left guard.

While Taylor cannot match Nelson’s full attendance over the past four seasons, he stayed healthy last season. Taylor’s 17-game year produced 1,585 rushing yards and an NFL-leading 20 touchdowns. Taylor, who played 14 games in 2024 and still amassed 1,431 rushing yards, logged a league-high 323 carries last season. He is at 1,551 for his career.

Among active backs, the Wisconsin alum’s carry count ranks seventh — behind Derrick Henry, Josh Jacobs, Saquon Barkley, Alvin Kamara, Christian McCaffrey and Aaron Jones. All those RBs were drafted in the 2010s, and each has made it to a third (or fourth) contract. Taylor’s past two seasons put him on course for his third deal, and past paydays for members of that high-volume crowd stand to help Taylor’s cause.

Barkley moved the RB AAV bar past $20MM, while McCaffrey checked in at $19MM per annum on his 2024 extension. Taylor’s camp will undoubtedly shoot for this range, though it would unsurprising if the effort fell a bit short. The cap has climbed by more than $20MM since Barkley’s deal was agreed to last year, however, and it is possible second-contract-seeking RBs Bijan Robinson and Jahmyr Gibbs — each holding in at their respective training camps — will raise the position’s ceiling before Taylor strikes. Taylor, conversely, could also help the younger RBs by agreeing to a deal near the Barkley-McCaffrey tier before Week 1.

The Colts still have several weeks to navigate the Taylor situation, and they have some leverage via a 2027 franchise tag. Indianapolis holds exclusive negotiating rights with Taylor until March 2027.