INDIANAPOLIS (WISH) — The drama is done.

All-Pro running back Jonathan Taylor has signed a three-year, $42 million contract extension with the Indianapolis Colts — with $26.5 million guaranteed. The news comes within an hour of the Colts activating Taylor to the 53-man roster after his first full week of practice.

“I want to thank Jim Irsay and his family, Chris Ballard, and Coach Steichen for the opportunity to be part of this organization’s future,” Taylor said. “I greatly appreciate the support of my teammates and Colts fans. I can’t wait to get back on the field and do everything I can to help bring this city the championship it deserves. I’m proud to be an Indianapolis Colt.”

“Jonathan is a special player and signing him to this extension is important knowing the impact he’ll make as the team develops under Shane Steichen,” owner and CEO Jim Irsay said. “I have no doubt he’ll continue to create highlight plays and memories for Colts fans as he’s done in his three seasons thus far. Jonathan deserves this deal and I’m happy for him.”

Taylor becomes the third highest-paid running back in the NFL based on yearly average. Taylor’s $14 million a year is bested only by San Francisco 49ers back Christian McCaffery ($16.01 million) and New Orleans Saints back Alvin Kamara ($15 million).

The contract extension and activation make it extremely likely that Taylor will make his season debut against the Tennessee Titans at Lucas Oil Stadium on Sunday.

While teams and players have been battling for months over the monetary value of running backs, Taylor becomes the first to sign a multi-year deal worth at least $10 million since Nick Chubb and the Cleveland Browns back in 2021.

“I’m thrilled we were able to reach an agreement with Jonathan,” general manager Chris Ballard said. “At the end of August, I spoke about the importance of relationships and being able to move forward. We were able to reach that point. We know what Jonathan means to this team and this city. He is an exceptional playmaker, and he has given a tremendous amount to our organization. This is the result we all wanted.”

“Part of the reason I took this job was to work with a player like Jonathan Taylor,” head coach Shane Steichen said. “He adds an explosive element to our offense and his success on the field over the last three seasons is undeniable. I’m excited for the role he’ll play on this team as we continue to build.”

After rehabbing from offseason ankle surgery, Taylor returned to practice for the first time on Wednesday — much to the delight of his teammates.

“He’s a great teammate. He cares about all the guys in the building, everybody in the building,” defensive tackle DeForest Buckner said. “I know he’s excited to be back and the guys are excited to have him back. He’s another playmaker on offense that obviously Shane (Steichen) can utilize within the scheme, and he’s a big-time playmaker for us. Obviously, we’re all ecstatic to have him back on the field.”

It’s a much-anticipated return after the Colts selected quarterback Anthony Richardson fourth overall in this year’s draft. The duo promises a dynamic and dangerous backfield.

“I know he’s a great player, and I know I can do some things pretty well. Just trying to combine those two things, I can only imagine what it’s like but we won’t see until it actually happens. We’ll see and I’m excited,” Richardson said.

“It’s huge,” Steichen said. “When you have an explosive player like (Taylor) in the backfield that can hit the home runs, obviously you might get heavier boxes obviously with him running the football. Then it leaves some shots down the field depending on how defenses are playing it. But, it definitely adds a huge element to our offense.”

Even though Richardson hasn’t had many practices on the field with Taylor, the chemistry off the field is already built.

“He’s a great guy. I love him,” Richardson said. “We talk almost every other day, whenever I see him – communicate. I think our relationships is pretty tight, and we’ll see how it is on the field.”

The Colts try to break a five-game losing streak to their AFC South rival Sunday. Kick-off against the Titans is scheduled for 1 p.m. Remember to Switch to WISH immediately following the game for the only Postgame Show in Indianapolis, with LIVE coverage from the podium room and locker room reactions.