Free agent contract projection for Indianapolis Colts' QB Daniel Jones

The Indianapolis Colts clearly want Daniel Jones back at quarterback. So what will it cost to retain Jones, who is set to hit free agency?

Both Shane Steichen and Chris Ballard have been very direct in saying that they want Jones to be the Colts' quarterback for 2026 and likely beyond.

"I think it's mutual on both sides," Ballard said of re-signing Daniel Jones. "I feel very good about Daniel Jones. Where he's at and where he's going."

Jones himself has also said that he would "love" to return.

However, there is still the contract situation to figure out. Potentially complicating things is that Jones is coming off an Achilles injury -- although Ballard says he is "confident" in Jones' ability to recover and bounce back.

With Jones coming off a major injury, how much are the Colts -- in both years and dollars -- willing to commit to him?

Spotrac put together its market value projection for Jones and arrived at a four-year deal worth $178.23 million. That's an average annual value of $44.6 million.

This would put Jones near the middle of the league in terms of quarterback contracts. His average annual value would be a bit higher than the deals Sam Darnold and Baker Mayfield signed.

Through the first 10 games of the season, Jones was one of the most productive quarterbacks in football, and the Colts' offense was one of the most efficient units in the game as a result.

The Colts believe that early success can be replicated in 2026.

This article originally appeared on Colts Wire: What Colts' QB Daniel Jones next free agent contract could look like?