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Report: Colts, RB Jonathan Taylor reach agreement on three-year, $42 million contract extension

It seems the two sides have resolved any differences after a roller coaster offseason filled with trade rumors. Taylor will remain in Indianapolis on a long-term extension.

Jonathan Taylor #28 of the Indianapolis Colts carries the ball against the Minnesota Vikings during the first quarter at U.S. Bank Stadium on December 17, 2022 in Minneapolis, Minnesota. Photo by Adam Bettcher/Getty Images

The Indianapolis Colts and RB Jonathan Taylor have reached an agreement on a three-year, $42 million contract extension, per ESPN’s Adam Schefter. The deal makes Taylor one of the top-paid RBs in the NFL and has $26.5 million guaranteed. He was recently activated off injured reserve and is set to make his season debut against the Tennessee Titans in Week 5 on Sunday. We break down the contract and what it means in fantasy football and for the Colts moving forward.

This is a pretty surprising development given all the reports during the offseason. Taylor had requested a trade and was given permission to seek a new team. The Colts couldn’t find an offer they liked and Taylor was kept on the roster through camp and preseason. He was placed on injured reserve and missed the first four weeks with an ankle injury. The expectation was for Taylor to be activated and shopped again in the trade market. It appears all of that was put in the past and the franchise was able to reach an agreement to keep Taylor.

For fantasy football managers who stashed Taylor after he dropped in drafts, this is your Christmas. Taylor appears healthy and ready to contribute. He should return in Week 5 and see a normal workload. As long as Taylor can stay healthy, there’s no reason to believe he won’t be a RB1 in fantasy football the rest of the season. If you have Zack Moss and don’t have Taylor, it was a nice run. Moss is still a good handcuff but he’s nothing more with the return of Taylor. Moss could see carries as a change-of-pace back but likely loses all fantasy appeal.

This move and the return of Taylor should help QB Anthony Richardson. It will be tough to defend an elite RB and an elite rushing QB at the same time. Taylor also takes A LOT of pressure off Richardson. This also is a boost for the offense overall. Michael Pittman Jr. should benefit from the offense improving with Taylor’s return and stability.