The Indianapolis Colts and running back Jonathan Taylor have agreed on a three-year, $42 million contract extension that includes $26.5 million guaranteed.
The deal makes Taylor one of the highest-paid running backs in the league and the first RB to sign a deal worth more than $10 million per year since the Cleveland Browns gave Nick Chubb a three-year, $36 million contract in 2021.
"I greatly appreciate the support of my teammates and Colts fans," Taylor said in a statement. "I can't wait to get back on the field and do everything I can to help bring this city the championship it deserves. I'm proud to be an Indianapolis Colt."
Deal done, now let's ball. ✍️ pic.twitter.com/r9hKksZxlL
— Indianapolis Colts (@Colts) October 7, 2023
The deal comes following Taylor's offseason trade request.
"We have extended Jonathan! He's a SPECIAL player and this extension is important knowing the impact he’ll make as our team develops under Shane," Colts owner Jim Irsay said on social media. "I have no doubt he’ll continue to create highlight plays and memories for our fans. He deserves this deal and I’m happy for him."
Taylor spent the first four games of the season on injured reserve as he continued to recover from offseason ankle surgery. He was removed from the physically unable to perform list Saturday and will likely make his season debut against the Tennessee Titans on Sunday.
"He looked good," head coach Shane Steichen said Friday. "Conditioning-wise, he looked good. Again, it's been a while since he's been out there, but he looked good the last couple days.
"If he plays on Sunday, obviously [it will be] the first time getting hit in a while," Steichen said. "But again, he did a good job running the football, seeing the holes. Shoot, he's a veteran player. He's played a lot of football and he looked good."
Taylor played in 11 games last season, rushing for 861 yards and four touchdowns.
The 24-year-old was an All-Pro in 2021, when he led the league with 1,811 rushing yards and added 18 rushing touchdowns.