The Jonathan Taylor Sweepstakes has taken an unexpected turn.

The star running back has been at the center of NFL Trade Deadline rumors since the Indianapolis Colts decided to kick off an early-season rebuild after firing longtime general manager Chris Ballard following a disastrous Week 6 loss to the winless Tennessee Titans.

The rebuild began with a fire sale of their roster as the Colts traded away franchise cornerstones in LG Quenton Nelson and DT DeForest Buckner following a Week 7 loss to the Minnesota Vikings, and Taylor has been the top trade candidate on the market ever since.

Several championship contenders have been active in trade talks for running backs, and a recent trade from a team looking to save its season may have inadvertently increased Jonathan Taylor's value.

Follow along as I break down what this move in question means for Taylor and the Colts as we inch closer toward the NFL Trade Deadline on November 10th at 4 PM EST.

The State of the Sweepstakes

Colts Owner/CEO Carlie Irsay-Gordon views Jonathan Taylor as "a key part of the organization and a likely mainstay in their rebuild," according to ESPN NFL Insiders Adam Schefter and Ian Rapoport.

However, the Colts are also open to dealing Taylor if the price is right.

The reported asking price of a 2027 first-round pick has remained firm, but most believe that Irsay-Gordon and Co. would be willing to deal Taylor if they could net first-round value. Ian Rapoport implied on the Pat McAfee Show yesterday

A first-round pick is the easiest way to satisfy such a request, but the Colts can also achieve this goal by adding multiple Day 2 (rounds 2-3) draft selections.

Schefter also reported that Indianapolis already received an offer of a 2027 second-round pick, along with additional compensation, for Taylor's services, but the Colts have been standing pat as they believe their storied rusher warrants such a return.

Yesterday on the Pat McAfee Show, Ian Rapoport implied that the Colts' early trades of Quenton Nelson and DeForest Buckner have resulted in teams being reluctant to match Taylor's asking price, given they think Indianapolis undersold two of their biggest assets.

However, unlike Nelson and Buckner, whose deals were expiring, Taylor's recent two-year extension earlier this offseason has him under contract through the 2028 season.

The running back role has been deemed a non-premium position for quite some time now, which has made the Colts' first-round asking price feel far-fetched.

Furthermore, the Colts are reportedly seeking compensation simliar to what the Carolina Panthers got for running back Christian McCaffrey back in 2022.

In exchange for McCaffrey, the Panthers received a 2023 NFL Draft 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 undisputed best offensive weapons, but he still couldn't net a first-round draft selection.

His $12 million annual salary made him the NFL's highest-paid running back at the time and he had 3.5 years left on his contract, yet teams were reluctant to pay such a premium for a position they typically disregarded.

Four years later, Taylor's current contract averages $22 million per year, putting him just behind Bijan Robinson for the second-highest-paid running back in the league. So while this was a pricey deal at the time of signing, it's worth noting that we're starting to see the NFL pay more of a premium for running backs.

A hypothetical suitor would be on the hook for Taylor's expensive next two seasons, but given that the Colts already paid him his $15 million signing bonus before the season, they would only owe Taylor $15 milllion in 2027 and $9.46 million in 2028.

As of Monday, the reported interested teams for Jonathan Taylor are the New York Giants, Minnesota Vikings, Seattle Seahawks, Denver Broncos, Cincinnati Bengals, and Green Bay Packers.

The aforementioned contract layer gives interested teams some wiggle room financially, and Taylor looks even more enticing once you taken into account the fact Baltimore Ravens running back Derrick Henry may be off the market ahead of the NFL Trade Deadline.

Why Ravens Last-Ditch Effort Increases JT's Value

Jonathan Taylor has headlined all NFL trade talks, but there are still a few quality running backs on the market who have hurt his value as a result.

New York Jets' Breece Hall, Tennessee Titans' Tony Pollard, and Baltimore Ravens' Derrick Henry have been regularly mentioned as trade candidates, but the latter of which may be off the market entirely come trade deadline day.

It may not appear that way as the Baltimore Ravens sit with a 4-4 record and are last in their division entering Week 9.

The AFC North is the only division in the NFL that features all four teams with an even record (.500) or better, and given that their outlook at quarterback is bleak, they'd be wise to sell off any remaining assets, and Henry is the first name that comes to mind.

Ravens' superstar quarterback Lamar Jackson (thumb) and backup Tyler Huntley (turf toe) could both be out for the rest of the season.

Jackson was placed on Injured Reserve earlier this week, meaning that he'll have to miss at least the next four games, but given that his thumb injury will require surgery, there's a good chance he'll be shut down for the rest of the season.

Furthermore, Huntley's toe injury is confirmed to be season-ending, and the Ravens are now set to start rookie undrafted free agent Joe Fagnano against the Jacksonville Jaguars on Thursday, November 5th.

However, the Baltimore Ravens have seemingly decided that they aren't punting on the 2026 regular season just yet.

On Wednesday, the Ravens made a trade with the Arizona Cardinals to bring in longtime veteran journeyman quarterback Jacoby Brissett, according to ESPN's Adam Schefter.

Trade: the Arizona Cardinals are finalizing a trade to send QB Jacoby Brissett to the Baltimore Ravens, per @RapSheet and me. Deal is expected to be completed until this weekend.

The Ravens lost QB Lamar Jackson to a thumb injury, and his backup Tyler “Snoop” Huntley to turf… pic.twitter.com/BYEqcHA1jq

— Adam Schefter (@AdamSchefter) November 4, 2026

The deal is expected to be finalized by this weekend, meaning that Brissett will not be active for the Ravens' Thursday Night Football matchup, though it does speak to the organization's long-term plans.

The Ravens aren't prepared to give up on the season just yet, and while things may change between now and Tuesday's highly anticipated trade deadline, the Colts have been granted some extra leeway in negotiations for Jonathan Taylor's services in the meantime.

With Derrick Henry seemingly off the market, Taylor's price has increased.

RB-hungry teams may still be more inclined to entertain Tony Pollard or Breece Hall's asking price(s), but regardless, Taylor has separated himself as the definitive best option on the market.

You'd expect Taylor to be sidelined until his fate is decided, but Indianapolis Colts' head coach Shane Steichen still plans to play Taylor 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 as to 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.”

Trotting Jonathan Taylor out onto the field amid trade talks feels like malpractice, but as long as he stays healthy and the Colts are able to net first-round value, Indianapolis is shaping up to have a strong start to their much-needed rebuild.

The Indianapolis Colts would be wise to trade Jonathan Taylor, and the Baltimore Ravens bringing in an old friend may be the indirect needle-mover they need to get the job done.