Colts' Taylor signs reported 3-year, $42M extension; set for debut vs. Titans

The Indianapolis Colts and running back Jonathan Taylor agreed to a long-term extension to end their contract standoff, the team announced Saturday.

Details of the deal weren't disclosed, but Taylor inked a three-year agreement worth $42 million, sources told Adam Schefter of ESPN.

Taylor, who requested a trade from the Colts in July after failing to get a new contract in the offseason, also gets $26.5 million guaranteed, adds Schefter.

The 24-year-old is set to make his season debut Sunday against the Tennessee Titans after being activated from the physically unable to perform list. He was also removed from the team's injury report after being listed as questionable, further signaling that he'll suit up for the AFC South matchup.

The running back becomes the third-highest-paid player at his position. He was in the final year of his rookie deal.

"I want to thank (owner) Jim Irsay and his family, (general manager) Chris Ballard, and coach (Shane) Steichen for the opportunity to be part of this organization's future," Taylor said. "I greatly appreciate the support of my teammates and Colts fans.

"I can't wait to get back on the field and do everything I can to help bring this city the championship it deserves. I'm proud to be an Indianapolis Colt."

Taylor's also the first running back to land a long-term deal worth $10 million or more per year since Nick Chubb in 2021. Saquon Barkley and Josh Jacobs were in line for big-money extensions this offseason, but they both received the franchise tag before getting reworked one-year deals.

Taylor missed the first four games of the season due to an ankle injury. He underwent surgery in January and had been on the PUP list since training camp.

The Colts intend to ramp up Taylor's workload over the next month and will initially have him on a snap count, a source told Dianna Russini of The Athletic.

Taylor wouldn't discuss his rift with Indianapolis in his first public comments since July on Thursday.

"I don't think it matters on if I'm saying I'm committed or not because I'm here. If somebody wasn't committed, they wouldn't be here," he said. "And right now, I'm here."

The Colts allowed Taylor to test his trade market but opted to keep the All-Pro after their asking price wasn't met. The Green Bay Packers and Miami Dolphins were reportedly Taylor's most prominent suitors.

"I'm thrilled we were able to reach an agreement with Jonathan," Ballard said. "At the end of August, I spoke about the importance of relationships and being able to move forward.

"We were able to reach that point. We know what Jonathan means to this team and this city. He is an exceptional playmaker, and he has given a tremendous amount to our organization. This is the result we all wanted."

Taylor was the NFL's rushing champion in 2021, racking up 1,811 yards and 18 touchdowns. But he failed to match that performance in 2022, finishing with 861 yards while missing six games due to injury.

He will pair with rookie quarterback Anthony Richardson, who has thrown for 479 yards and three touchdowns against one interception while adding 131 yards and four scores on the ground in three starts.