Jonathan Taylor's holdout has ended in an emphatic fashion. The Colts' star running back has come to terms with the team on a three-year, $42 million extension that includes $26.5 million guaranteed, according to NFL Media and confirmed by CBS Sports NFL Insider Josina Anderson.
Taylor had been in a contentious contract dispute with the club after Colts owner Jim Irsay said that the team would not extend Taylor's contract before the start of the 2023 season. Irsay clearly had a change of heart while helping Taylor reset the running back market in the process.
"Jonathan is a special player and signing him to this extension is important knowing the impact he'll make as the team develops under Shane Steichen," Irsay said, via the team's website. "I have no doubt he'll continue to create highlight plays and memories for Colts fans as he's done in his three seasons thus far. Jonathan deserves this deal and I'm happy for him."
The four-year veteran is now one of the league's highest-aid running backs, joining the ranks of Christian McCaffrey, Alvin Kamara, Derrick Henry and Nick Chubb. Each of those players make at least $12.2 million annually under multiyear contracts.
Saturday's news comes after the team activated Taylor off of the physically unable to perform list, making Taylor eligible to play in Sunday's game against the Tennessee Titans. Taylor is currently listed as questionable as he continues to work through an ankle injury that sidelined him during the season's first four games.
When healthy, the 24-year-old, former second-round pick has played at a high level during his time in Indianapolis. He ran for over 1,100 yards as a rookie and in 2021 won the league's rushing title after running for a franchise record 1,811 yards.
Despite the contract situation, the Colts have been steadfast in their desire to keep Taylor in the fold for the long haul. Taylor also expressed his desire to remain in Indianapolis just days prior to signing his extension. Both sides ultimately made that happen on Saturday.
"I want to thank Jim Irsay and his family, Chris Ballard, and Coach Steichen for the opportunity to be part of this organization's future," Taylor said. "I greatly appreciate the support of my teammates and Colts fans. 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."