Reports: Colts RB Jonathan Taylor agrees to 3-year, $42M extension

Indianapolis Colts running back Jonathan Taylor agreed to terms on a three-year, $42 million contract extension that includes $26.5 million guaranteed, multiple media outlets reported Saturday.

Taylor was activated to the 53-man roster Saturday and the Colts waived fellow running back Jake Funk. The team also lifted Taylor's questionable tag for Sunday's game against the visiting Tennessee Titans after he worked through the final recovery stages of an ankle injury.

Taylor underwent offseason ankle surgery and sat out the first four games this season while on the physically unable to perform list.

Taylor, a second-round pick in the 2020 NFL Draft, was in the final year of his four-year, $7.8 million rookie contract and was due to receive a $4.3 million base salary this season.

Taylor, 24, rushed for 861 yards and four touchdowns in 11 starts last season. The 2021 All-Pro selection has gained 4,643 yards from scrimmage and scored 36 TDs in 43 career games (41 starts).

The Colts' leading rusher through four games this year is Zack Moss with 280 yards and one touchdown on 66 carries. Rookie quarterback Anthony Richardson has rushed for 131 yards and four scores.

—Field Level Media