Indianapolis Colts owner Jim Irsay revealed Thursday that the organization has not made star running back Jonathan Taylor a contract extension even though he's entering the final year of his rookie deal in 2023.

Per ESPN's Stephen Holder, Irsay explained that his comment about how "some agents are selling 'bad faith'" regarding the running back market was not in reference to Taylor:

"The comment wasn't really directed at Jonathan. We haven't exchanged any contract numbers with each other or anything like that. So, it's not like we're in the midst of that. I think we had a tough season last year. Didn't win a lot of games. This is a year about coming back together and having a great year and we're really depending on Jonathan to team up with [quarterback] Anthony Richardson to try and pull together to have a great year."

Taylor's agent, Malki Kawa, responded to Irsay's tweet about running backs and their agents, saying: "Bad faith is not paying your top offensive player."

Irsay's comment came in the midst of a tumultuous time for NFL running backs, as many believe they aren't being properly valued and rewarded with big contracts.

Last week Monday was the deadline for franchise-tagged players to sign long-term contracts, but Saquon Barkley of the New York Giants, Josh Jacobs of the Las Vegas Raiders and Tony Pollard of the Dallas Cowboys all failed to land long-term deals with their respective teams.

That led to Los Angeles Chargers running back Austin Ekeler organizing a Zoom call involving many of the NFL's top running backs so they could discuss the running back market and how to potentially improve their situation.

NFL Network's Ian Rapoport reported that Taylor was on the call and was "visibly frustrated" about his contract situation.

The 24-year-old Taylor was selected in the second round of the 2020 NFL draft out of Wisconsin, and he was highly productive in his first two campaigns.

Most notably, Taylor was a Pro Bowler and first-team All-Pro in 2021, as he led the NFL with 1,811 rushing yards and 18 rushing touchdowns while also catching 40 passes for 360 yards and two scores.

Taylor was plagued by injuries last season, though. He played only 11 games and finished with a career-low 861 yards and four touchdowns on the ground.

Despite the down year and the fact that the Colts have not engaged him in contract talks, Irsay insisted that he wants to get Taylor re-signed at some point, saying:

"We love Jonathan, we need Jonathan. Our hope is Jonathan has an outstanding year and that we have a good year as a team and then we get his next contract done. That's the hope. We think the world of him as a person, as a player. It's just timing. When your time comes to get paid, then you get paid."

Per Spotrac, Taylor will earn a base salary of $4.3 million in 2023, which is a figure he far outplayed in 2021 before taking a step back last season.

Taylor is in line to make significantly more next season if he can bounce back in 2023. However, the recent running back trend in the NFL suggests the Colts may prefer to place the franchise tag on Taylor rather than negotiating a long-term deal.