Analysis

Per Stephen Holder of ESPN.com, Jones' contract is guaranteed for $13.15 million and will be worth up to $14 million if he's active for all 17 regular-season games. The deal also contains up to $3.7 million in additional performance-based incentives. The stage is thus set for Jones -- the No. 6 overall pick in the 2019 NFL Draft -- to compete with Anthony Richardson for the Colts' starting quarterback job throughout training camp and the preseason.

Analysis

Jones' contract will be a one-year, $14 million deal once finalized, Adam Schefter of ESPN reports. The former Giants quarterback reportedly had an avenue to return to Minnesota, where he could have served as a veteran mentor to J.J. McCarthy (knee), but landing in Indianapolis will instead provide Jones with an opportunity to compete for the starting job against Anthony Richardson (back). General manager Chris Ballard had referred to an upcoming "open competition" between Richardson and a signal-caller to be determined, a role that will now be filled by Jones.

Analysis

After completing 216 of 341 passes (63.3 percent) for 2,070 yards, eight touchdowns and seven interceptions through 10 games for the Giants, Jones was released by the team and subsequently signed with the Vikings' practice squad. Though he was added to the roster for the playoffs, he was inactive for the wild-card round as the team's emergency No. 3 quarterback behind Sam Darnold and Nick Mullens. Jones is set to become a free agent this offseason, and while a return to Minnesota may be unlikely, the Vikings could receive a compensatory draft pick if he ends up signing elsewhere.

Analysis

Jones joined the Vikings' practice squad in late November after being released by the Giants. He wasn't elevated to Minnesota's active roster during the regular season, but he was signed to the active roster this past Tuesday. As the emergency quarterback, Jones will not be allowed to play Monday unless starter Sam Darnold and backup Nick Mullens were both to be taken out of the game due to injury, illness or ejection.

Analysis

The quarterback didn't see any time on the 53-man roster for the Vikings during the regular season after being signed to the practice squad in late November. Even so, his ample starting experience with the Giants could make him a candidate to leapfrog Nick Mullens if starter Sam Darnold were to get hurt during Minnesota's upcoming postseason run. Jones is still scheduled to hit free agency this offseason, though by adding him to their roster, the Vikings could net a compensatory draft pick if the signal-caller signs elsewhere.

Analysis

After drawing interest from plenty of suitors upon getting waived by the Giants last week, Jones was eager to join a playoff-contending club and appears to have found a good landing spot in Minnesota. Though Sam Darnold will remain the Vikings' starting quarterback, Jones is expected to be elevated from the practice squad and serve as Darnold's backup once he gets up to speed with head coach Kevin O'Connell's offensive system. By joining the practice squad rather than Minnesota's 53-man roster, Jones will have the option to sign with another organization if a better opportunity emerges elsewhere later in the season before re-entering free agency this spring. Jones had started in each of the Giants' first 10 games of the season and completed 63.3 percent of his passes for 2,070 yards, eight touchdowns and seven interceptions while carrying 67 times for 265 yards and two scores in that span.

Analysis

Las Vegas seemed to present a logical landing spot for Jones, especially after Gardner Minshew suffered a season-ending broken collarbone Sunday against Denver. However, Jones reportedly is interested in linking up with a postseason contender, which the 2-9 Raiders certainly are not. Schultz reports that Jones has "substantial interest" from multiple playoff teams, but it's unclear if any of those would give the former Giant a chance to compete for a starting role.

Analysis

Jones reportedly would prefer to sign with a playoff contender, but it's interesting that there's at least one landing spot where he could step in as a starter. The quarterback was waived Friday and is expected to formally clear waivers Monday, at which point he would be able to sign with a team.

Analysis

The team's statement says Jones asked to be released and was granted his request. He'll now be subject to waivers, although his large contract presumably ensures nobody will put in a claim, which means he'll soon be a free agent and able to sign with any team. Offset language in the contract means Jones has no immediate incentive to sign for more than the veteran's minimum, much like Steelers QB Russell Wilson this past offseason. As such, Jones should find work soon enough if he so desires, be it as a backup for a contender or a potential late-season starter for a non-contender with QB woes. The Giants, meanwhile, are moving forward with Tommy DeVito as their starting quarterback and Drew Lock in the backup role.