The running back rebellion of 2023 is officially over. Jonathan Taylor already announced his intent to play for the Indianapolis Colts before being activated from the Injured Reserve, but now he can do so without worrying about his future.

Taylor signed a three-year contract extension worth $42 million ($26.5 million guaranteed) on Saturday, ending a long saga that gave Indy fans plenty of headaches. A trade request was made, frustration with ownership was reported and an ugly end was prognosticated by many. Things did not just work out; they went better than could ever be expected.

The Colts brilliantly weathered their star back's IR stint with road wins over the Houston Texans and Baltimore Ravens, while also fighting their way back from a 20-0 deficit in an overtime loss to the Los Angeles Rams. Now, they prepare to face the Tennessee Titans with the opportunity to end Week 5 as sole division leaders.

A returning and presumably happy Taylor will only fuel fans' confidence in Lucas Oil Stadium this Sunday. The organization wisely got a deal done, ensuring that the focus will be on the field. But was Indianapolis too generous?

Let's break it down, as we stamp a grade on Jonathan Taylor's contract extension with the Colts.

Jonathan Taylor the player

Before we give our verdict, we need to properly spotlight the 2021 All-Pro. If someone is going to be one of the highest paid players at their position, there must be no doubts about their talent or value. Taylor is unequivocally one of the best running backs in football. He has posted two high-quality seasons since being drafted in the second round of the 2020 NFL Draft. One of those saw him lead the entire league in rushing yards (1,811) and rushing touchdowns (18).

No. 28 admittedly took a clear step back in an injury-ridden 2022 campaign, but he still averaged 4.5 yards per carry in 11 games. If Taylor's lingering ankle injury is actually behind him, then fans should expect him to produce superstar numbers once again. But it might take a little while to fully shake off the rust.

The former Wisconsin great–three First-Team All-Big Ten selections–is a pure runner who has a knack for punishing defenses with devastating big plays. He is also a serviceable pass-catcher, though, as evidenced by the 104 receptions he has amassed in 43 career games. The Colts offense has already been improving under rookie quarterback Anthony Richardson and head coach Shane Steichen, but adding another versatile athlete like Taylor to the mix could do wonders.

Colts' Jonathan Taylor contract grade

Indianapolis general manager Chris Ballard was in a difficult spot in these negotiations. With the value of running backs diminishing all around the NFL, owner Jim Irsay seemingly did not want to be the one to overpay. Short-term contracts or franchise tags can effectively squeeze out an RB's production without an organization ever having to make a full commitment.

Saquon Barkley and Josh Jacobs might find themselves in this exact situation. Fortunately for Taylor, he is still only 24 years of age. That gave Irsay and Ballard more incentive to break the bank for their guy. Taylor will earn an average salary of $14 million across the three years, which puts him behind only Christian McCaffrey and Alvin Kamara for highest paid backs in the NFL. For a back who should still be in his prime for at least a year or two longer, this extension is a fine move for the Colts.

What makes the contract even more justifiable, though, is that it solidifies a tantalizing QB-RB combo for the immediate future. While they have yet to play in a game together, Taylor and Richardson give Steichen endless possibilities on offense from a play-calling perspective. They can keep the defense off guard and dictate the pace of the action. Taylor is an invaluable weapon for a rookie signal-caller to have and can make sure that Richardson doesn't get overextended.

Although things didn't look pretty initially, the Colts come away winners after locking down arguably their best offensive player right now. Jonathan Taylor's presence helps Anthony Richardson's development process and the team's winning chances.

When factoring in all those circumstances and the raw production, there is only one grade that feels appropriate to assign the Colts.

Grade: A