Colts, Jonathan Taylor Begin Extension Talks

At what seems like a crucial point for the running back position’s value, Jonathan Taylor is now extension-eligible. The 2021 rushing champion wants to stay with the Colts, who have extended his three top blockers — Ryan Kelly, Braden Smith, Quenton Nelson — in each of the past three years.

Taylor, however, is coming off an injury-limited season. Ankle trouble kept Taylor out of six games last season, and the former second-round pick underwent surgery this offseason. No fifth-year option exists in Taylor’s rookie contract, putting both he and fellow 2020 second-rounder Michael Pittman Jr. in walk years.

[RELATED: Taylor Makes Agency Change]

While receivers’ positional value has soared in recent years, backs have seen their gradually fading statuses absorb more hits this offseason. No trade market materialized for Austin Ekeler; Saquon Barkley has voiced frustration about his talks with the Giants; the Vikings released Dalvin Cook. This comes during a year in which the Packers gave Aaron Jones a slight pay cut and the Bengals are prepared to move in this direction with Joe Mixon. Miles Sanders‘ $6.35MM-per-year Panthers deal led the way at the position this offseason.

Taylor, 24, will be aiming much higher. The position’s latest crisis and the ankle injury notwithstanding, Taylor and the Colts have held some extension talks, ESPN.com’s Stephen Holder writes. The fourth-year starter has approached the Colts about a deal, according to the Indianapolis Star, while also making some pointed comments about the state of the running back.

“You definitely have to pay attention, just so you know, ‘OK, what type of space are you entering into?’” Taylor said of the running back market. “And you just hope from the track record here [in Indianapolis] that things are being evaluated the right way. … You see why guys request trades. They just want to feel valued by not only their coaches, their teammates, but the organization as well.”

The Colts have an extensive track record of re-upping their own under GM Chris Ballard. In addition to the top-five positional deals for Nelson, Kelly and Smith, the Colts have paid Shaquille Leonard, Kenny Moore and Grover Stewart. Indianapolis re-signed Marlon Mack, but the Taylor predecessor’s Achilles injury crushed his value. Indy extended Nyheim Hines but traded the Taylor backup/return specialist a year later.

The New Jersey native won the ’21 rushing crown by 552 yards, powering an offense that featured inconsistent quarterback play. Taylor added 360 receiving yards that season. Unreliable QB play has been a Colts constant for much of the Ballard era, and with Anthony Richardson seemingly needing seasoning time, that might not cease this season. But Richardson’s contract does open the door to new possibilities, with the Colts having carried Philip Rivers, Carson Wentz and Matt Ryan‘s salaries on their books over the past three seasons. A lower-cost approach at quarterback opens the door for payments to Taylor and Pittman, but even though Taylor is a better player, the latter will be positioned to out-earn him due to the receiver position’s value. As such, Pittman probably profiles as Indy’s top free agent priority. Indianapolis also has Moore and safety Julian Blackmon on expiring deals.

“You look at the past, and guys who have shown their value on and off the field tend to stay here,” Taylor said. “My goal, the first season after I got drafted, I’m like ‘I want to retire a Colt.’ Hopefully the organization sees that the same, because I do. … We’ll see where things go. It’s kind of on them right now.”

Christian McCaffrey and Alvin Kamara remain tied to $16MM and $15MM averages, respectively, having hovered atop the market since 2020. The Cowboys ditched Ezekiel Elliott‘s $15MM-AAV deal this offseason, and the Vikings moved on from the No. 4 earner at the position (Cook) last week. Mixon and Jones signed $12MM-per-year deals in 2020 and ’21, respectively, while Derrick Henry is entering the final season of his $12.5MM-AAV deal. The steadiest of the backs on big-ticket contracts, Nick Chubb remains on a $12.2MM-per-year pact.

It will be interesting to see where the Taylor talks go, and this year’s franchise-tagged trio — Barkley, Josh Jacobs, Tony Pollard — should have a major say in how the market looks when the Colts determine their starter’s Indy future.