Report: Colts signing Daniel Jones to 1-year, $14M deal

The Indianapolis Colts are signing quarterback Daniel Jones to a one-year, $14-million deal worth up to $17.7 million, sources told NFL Network's Ian Rapoport and Tom Pelissero.

The 27-year-old passer was choosing between the Vikings and the Colts, ESPN's Stephen Holder reports. After negotiations went late into the night, the appeal of potentially starting drew Jones to Indianapolis, Rapoport said.

Jones will compete for the Colts' starting job with Anthony Richardson. General manager Chris Ballard said two weeks ago that an open competition "will help up everyone's game."

Richardson, the fourth overall pick of the 2023 draft, has struggled to stay healthy in the NFL. The 22-year-old played four games in his rookie campaign before suffering a season-ending shoulder injury and was sidelined for four games due to injury last season.

Head coach Shane Steichen also benched Richardson for two games in 2024 as a wake-up call. Richardson finished the campaign with 1,814 passing yards and eight passing touchdowns in 11 games. His 47.7% pass-completion rate was the worst in the NFL.

Jones began last season with the Giants before New York cut him in November. He passed for 2,070 yards, eight touchdowns, and seven interceptions in 10 starts. Jones then joined the Minnesota Vikings to back up Sam Darnold but didn't play a game.

The Giants selected Jones sixth overall in 2019, and he started 69 games in six seasons. New York made a single playoff appearance in 2022 with Jones under center. He finished his Giants tenure with 14,582 passing yards, 85 total touchdowns, 47 interceptions, and a 64.1% pass-completion rate.

The Vikings will turn to sophomore J.J. McCarthy to lead the offense, barring another addition, after the Seattle Seahawks signed Darnold on Monday. McCarthy was picked 10th overall in last year's draft and then tore the meniscus in his right knee in the preseason. He missed his entire rookie year due to the injury.