It's a new era for the Indianapolis Colts. The franchise enters a brand new chapter under head coach Shane Steichen with first-round pick Anthony Richardson providing a major reason for optimism.

As the Colts prepare for a fresh start under a new staff, there is one major storyline: Jonathan Taylor and his contract. Taylor is eligible for an extension, but Indianapolis has not made an offer to the All-Pro rusher.

Taylor is coming off his worst season in the league, where he recorded career lows in yards and touchdowns, largely due to injuries and porous offensive line play. But prior to that, he was the best in the league in 2021. Which makes him such an intriguing player moving forward.

In fact, ESPN considers the Colts star to be one of the 10 most intriguing players in the NFL ahead of the 2023 NFL season. When healthy and at his best, Taylor is one of the elite players in the league that can turn a game on its head.

But considering where he stands after last season and what the running back market has become, Taylor is entering a critical year in his career with the Colts. And that's why ESPN NFL analyst Dan Graziano highlights him.

But I picked Taylor, who's entering his fourth season with the Colts and is extension-eligible for the first time. But he is also coming off a frustrating, injury-riddled year that started with him being the consensus first overall pick in every fantasy draft and ended with just 861 rushing yards and four touchdowns. Taylor is still just 24 and scheduled to earn $4.304 million in this final year of his contract. Based on his 2022 season, when he led the league in rushing attempts, yards and touchdowns, he's worth more than that. But how much more?

There is no denying how good Taylor is. He has led the league in rushing and earned first-team All-Pro honors just two seasons ago, after all. The bigger question in contract negotiations is determining how valuable it is to pay a rusher.

As Graziano points out, Taylor is in a tough spot. He can either sign this offseason when his stock is low. Or he can play out the 2023 season and risk injury. Either way, it's not the best position to be in.

Four of the top five highest-paid running backs by average annual salary signed their deals in 2020, and the other (Nick Chubb) signed his in 2021. The running back market does not move the way the market does at other positions, and teams don't seem interested in stretching to pay running backs. If you're Taylor, signing now at what you probably believe is a below-market number coming off your worst season doesn't sound great. But if you play it out and look more like your 2021 self, your best-case scenario is probably a franchise tag.

Perhaps Taylor gets back to his 2021 self while playing in Steichen's run-friendly offense and next to the dynamic Richardson in the backfield. If that happens, it's anybody's guess how next offseason could go if a deal isn't signed before week one.

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Featured image via Jenna Watson/IndyStar / USA TODAY NETWORK