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The Jonathan Taylor trade saga has taken a surprising twist. The Indianapolis Colts, mired in an early-season rebuild after firing general manager Chris Ballard following a Week 6 loss to the previously winless Tennessee Titans, have been fielding calls for their star running back. The rebuild commenced with the trades of left guard Quenton Nelson and defensive tackle DeForest Buckner after a Week 7 defeat to the Minnesota Vikings, and Taylor has been the centerpiece of trade discussions ever since.
Multiple championship-caliber teams have expressed interest in acquiring a running back, and a recent move by a team trying to salvage its season may have inadvertently raised Taylor's market value. With the NFL trade deadline set for November 10 at 4 PM EST, the situation remains fluid.
The State of the Sweepstakes
According to ESPN NFL Insiders Adam Schefter and Ian Rapoport, Colts Owner/CEO Carlie Irsay-Gordon regards Taylor as "a key part of the organization and a likely mainstay in their rebuild." Nevertheless, Indianapolis is open to moving him if the compensation is right. The reported asking price of a 2027 first-round pick has remained firm, though many believe Irsay-Gordon and company would accept a package of multiple Day 2 selections (rounds 2-3) to satisfy their demand for first-round value, as Rapoport implied on the Pat McAfee Show yesterday.
Schefter also reported that the Colts have already received an offer of a 2027 second-round pick plus additional compensation for Taylor, but they have stood pat, believing their star rusher warrants a greater return. Rapoport suggested that Indianapolis' early trades of Nelson and Buckner have made teams hesitant to meet Taylor's price, as they feel the Colts undersold two of their biggest assets. However, unlike Nelson and Buckner, whose contracts were expiring, Taylor signed a two-year extension this offseason that keeps him under contract through the 2028 season.
The running back position has long been considered non-premium, making the Colts' first-round ask seem steep. Furthermore, Indianapolis is reportedly seeking compensation similar to what the Carolina Panthers received for Christian McCaffrey in 2022. In that deal, the Panthers got a 2023 second-round pick, a 2023 third-rounder, a 2023 fourth-rounder, and a 2024 fifth-round pick. At the time, McCaffrey was one of the NFL's elite offensive weapons, yet he still didn't fetch a first-round selection. His $12 million annual salary made him the league's highest-paid running back, and he had 3.5 years left on his contract, but teams were reluctant to pay a premium for a position they typically devalued.
Four years later, Taylor's contract averages $22 million per year, ranking second among running backs behind Bijan Robinson. While that seemed pricey at signing, the NFL is beginning to pay more for running backs. A hypothetical suitor would inherit Taylor's expensive next two seasons, but since the Colts already paid his $15 million signing bonus before the season, they would only owe him $15 million in 2027 and $9.46 million in 2028. As of Monday, the reported interested teams are the New York Giants, Minnesota Vikings, Seattle Seahawks, Denver Broncos, Cincinnati Bengals, and Green Bay Packers. The contract structure gives suitors financial flexibility, and Taylor becomes even more appealing with the possibility that Baltimore Ravens running back Derrick Henry may be off the market before the deadline.
Why Ravens' Last-Ditch Effort Increases Taylor's Value
Jonathan Taylor has dominated NFL trade chatter, but other quality running backs have diluted his value. New York Jets' Breece Hall, Tennessee Titans' Tony Pollard, and Baltimore Ravens' Derrick Henry have been frequently mentioned as trade candidates, but Henry may no longer be available come deadline day. The Ravens sit at 4-4 and are last in the AFC North entering Week 9, but the division is the only one in the NFL with all four teams at .500 or better. With their quarterback situation in flux, Baltimore might have been wise to sell, and Henry was the first name that came to mind.
Ravens' superstar quarterback Lamar Jackson (thumb) and backup Tyler Huntley (turf toe) could both be out for the season. Jackson was placed on Injured Reserve earlier this week, meaning he'll miss at least the next four games, but his thumb injury requires surgery, so there's a strong chance he's shut down for the year. Huntley's toe injury is confirmed season-ending, and the Ravens are set to start rookie undrafted free agent Joe Fagnano against the Jacksonville Jaguars on Thursday, November 5th.
However, Baltimore has apparently decided not to punt on the 2026 season just yet. On Wednesday, the Ravens acquired veteran journeyman quarterback Jacoby Brissett from the Arizona Cardinals, according to ESPN's Adam Schefter. The deal is expected to be finalized by this weekend, meaning Brissett won't be active for the Ravens' Thursday Night Football matchup, but it speaks to the organization's long-term plans. Baltimore isn't ready to give up on the season, and while things could change before Tuesday's deadline, the Colts have gained extra leverage in negotiations for Taylor in the meantime. With Henry seemingly off the market, Taylor's price has increased. Running back-needy teams may still consider Tony Pollard or Breece Hall, but Taylor has separated himself as the definitive best option available.
One might expect Taylor to be sidelined until his fate is decided, but Colts head coach Shane Steichen still plans to play him in the team's Week 9 matchup against the Dallas Cowboys. "He's on our football team, and he's excited for this opportunity to go play," Steichen said on Wednesday when asked why the Colts continue to play Taylor amid trade rumors. "He wants to go win this game, and he's on our football team right now. There is a lot of outside noise, trades, all this stuff. I mean, just with anything during this time of year, people are going to call. That's just part of the business, but again, you've got to be a professional and show up to work."
Playing Taylor amid trade talks may seem risky, but as long as he stays healthy and the Colts can secure first-round value, Indianapolis appears poised for a strong start to its much-needed rebuild. The Colts would be wise to trade Jonathan Taylor, and the Ravens' addition of an old friend may be the indirect catalyst they need to get a deal done.