Jonathan Taylor Extension Best Case Scenario for Colts, All-Pro RB

With Taylor and other high-profile running backs across the NFL dealing with contract issues, the running back market has been discussed ad nauseam. After an infamous Zoom meeting involving many of the top backs across the league, Taylor and his management dug in deep in their desire to secure the former All-Pro a big-time payday.

Sources indicated Taylor and his camp were searching for an extension that would make the running back the highest-paid player at his position. When the Colts failed to engage in extension talks, Taylor requested a trade and the opportunity to play elsewhere.

Taylor was not happy the Colts wanted to hold off on extension talks when the team had already set the precedent of extending their best players – such as Quenton Nelson, Shaquille Leonard, and Braden Smith – to top-dollar deals in the last year of their current contracts. That frustration prompted the trade request at the end of July, which the Colts initially denied. The Colts ultimately switched gears and allowed Taylor and his management to seek a trade a week before roster cutdown day.

While a deal was never close to being finalized, granting Taylor permission to seek a trade allowed his management to negotiate with other teams to see his value. When no other teams would meet Taylor's high asking price, it was clear the contract number would have to be adjusted.

As Taylor continued rehabbing his ankle, cooler heads began to prevail as the Colts and Taylor's management began negotiating to find common ground. The result was the extension agreed upon on Saturday.

Taylor's deal gives him an average annual value of $14 million, making him the third-highest-paid running back in the league by that metric. The $26.5 million guaranteed is the second-highest guaranteed total for a running back in NFL history. The deal gives Taylor long-term security and proves the Colts value him on and off the field.

On Thursday, Taylor revealed what he wants to accomplish with the Colts.

"What matters is what this team needs, what this team wants, what this city wants, what this city needs," Taylor said. "And what this city needs is a championship, and while I'm here, that's what I'm going to work my tail off to do."

Now in Indy for the foreseeable future, Taylor will have the opportunity to accomplish exactly that.

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The Colts wanted to take a "wait-and-see" approach with their contract extensions. Coming off a disastrous four-win campaign and bringing in a new coaching staff, general manager Chris Ballard wanted to use the 2023 season to evaluate players and determine who should be a part of their long-term future. If players performed well under Shane Steichen and his staff, the team would engage in contract talks.

Ballard also wanted to see how players would return after injury. Taylor played through a nagging ankle injury throughout 2022 and had to be placed on injured reserve to end the season. The Colts wanted to be sure Taylor would recover and return to his old self.

Here is what Ballard said about Taylor when the Colts reported to training camp in July.

"The (running back) market is what the market is, but saying that, like I’ve always told y’all, you pay good players," Ballard explained. "You pay guys that are going to help you win regardless of the position. We think very highly of Jonathan. Unfortunately, we didn’t have a great season as a team and he’s coming off the injury, but Jonathan is a great player and he’s a great person. So, I think that will play out over time and work out the way it should either way.”

Ballard and the Colts were open to paying Taylor. They just wanted to see the running back healthy, and Taylor was on a different timeline than his team. The trade request came, owner Jim Irsay posted some questionable things about the running back market on social media, and the Colts were left with an unhappy superstar.

The Colts permitted Taylor to seek a trade, but the asking price was egregiously high. The reason was the Colts never wanted to trade Taylor. Instead, Ballard allowed Taylor to find his market value like he has done with free agents over the years.

The Colts and Taylor remained in a stalemate for weeks. Taylor would do his rehab and immediately leave the facility. Legendary Colts' running back Edgerrin James stayed in contact with both the Colts and Taylor, acting as a mediator between the sides as he attempted to help repair the relationship.

However, as Taylor's health improved and he showed signs of his old self in workouts, the Colts began to open up to the idea of engaging in extension talks. The rapid development of Richardson also played a role in wanting to keep the team's best playmakers long-term.

ESPN's Stephen Holder reported Ballard reached out to Taylor's agent last week to begin extension talks. The two sides were able to put the past behind them and found common ground that was beneficial for both sides. Once Taylor was healthy, the offer was extended and agreed to.

Through everything, the Colts were able to keep Taylor for what will likely be the duration of his prime. When healthy, Taylor is easily a top-five running back in the NFL. Few players can take over a game like Taylor, and the Colts now have their best playmaker back in the fold.

The situation with Taylor and the Colts has been messy over the last few months. But with the two sides coming to a contract extension on Saturday, attention can now turn to the future.

Taylor joins an offense that has shown life over the last month. Richardson looks to be the real deal at quarterback and will only continue to get better as the rookie develops. Defenses will have difficulty stopping the electric duo of Richardson and Taylor on the ground.

The duo will also help open things up for one another. The threat of Taylor in the run game will give Richardson opportunities through the air and on the ground himself. If teams stay deep to combat the deep ball of Richardson, Taylor will have the advantage of facing light boxes.

Since Richardson was drafted in April, Colts fans have been waiting to see what the incredibly athletic quarterback can do with Taylor in the backfield. The two will finally share the field as Taylor will make his season debut today against the Tennessee Titans. Although Taylor will likely be integrated into the lineup slowly, #28 is back and here to stay.

Get ready for fireworks inside Lucas Oil Stadium.