The Indianapolis Colts signed running back Jonathan Taylor to a contract extension this offseason. However, according to ESPN's Dan Graziano, that recent deal doesn't mean that the Colts can't trade Taylor either.

"If, hypothetically, someone wanted to trade for Taylor, the recency of the extension doesn't make it impossible for the Colts to move him, as it might in the case of some other extensions," Graziano wrote.

Taylor signed a two-year extension to remain with the Colts through the 2028 season that is worth $44 million.

As Graziano notes, Taylor is making $23 million this season, including the $15 million signing bonus he received when the deal was signed. If the Colts were to trade Taylor, they would have to account for $10 million in dead money on their 2027 salary cap books.

The acquiring team would then take on a pro-rated version of Taylor's 2026 contract.

"His 2026 salary is $6.98 million, so an acquiring team would be responsible for whatever percentage of that remains, plus $60,000 for each remaining game in the form of fully guaranteed per-game roster bonuses," Graziano wrote.

Graziano adds that none of Taylor's 2027 money is guaranteed at the moment, but it will be five days after the Super Bowl.

For now, as Carlie Irsay-Gordon said in a statement after GM Chris Ballard was fired, the Colts' goals for the 2026 season remain the same. But at 2-4, it's really these next few weeks that will dictate how the team approaches the Nov. 10 trade deadline.