INDIANAPOLIS – The clock is ticking toward some type of resolution in the Indianapolis Colts/Jonathan Taylor stalemate.

A source confirmed to FOX59/CBS4 Wednesday the Colts have given Taylor and his agent until Tuesday to find a team willing to not only satisfy their compensation request – at least a first-round draft pick or multiple picks with comparable value – but also willing to meet his demands for an extension.

ESPN’s Stephen Holder was the first to report the latest development in a story that has dominated the Colts since training camp opened in late July. He also reported six teams have talked with the Colts about Taylor, and two have been involved in discussing trade parameters.

The Miami Herald, citing a league source, reported the Dolphins are among the teams that have called the Colts regarding Taylor.

The Colts/Taylor impasse went to another level Monday when a source revealed to FOX 59/CBS4 the team gave Taylor permission to pursue a trade. That was in stark contrast to owner Jim Irsay’s stance on July 29 when he insisted the team would not part with its disgruntled running back. During that time, though, the Colts always were keeping their options open.

Next Tuesday is a significant date/deadline. Rosters must be trimmed to 53 by 4 p.m., and the Colts must make a decision on Taylor. He remains on the active physically unable-to-perform list (PUP) while rehabilitating his right ankle which underwent surgery in late January.

If Taylor remains with the Colts and hasn’t been cleared medically, he opens the season on reserve-PUP and must miss at least the first four games of the season.

For a trade to be consummated, Taylor would have to pass a physical with his new team. He missed all of the Colts’ offseason work and the entirety of training camp with the ankle situation.

The Colts/Taylor drama intensified during the offseason when the team informed their 2020 second-round pick it would not be offering him an extension. He’s in the final year of his rookie contract and due a $4.3 million base salary this season.

Taylor responded by asking for a trade, which Irsay refused on July 29.

“Not now or not in October,’’ he told FOX 59/CBS4 – after he and Taylor met for an hour at the owner’s luxury motor home.

Things have subsequently deteriorated to the point a trade might be the only viable option.

Taylor was a spectator at several training camp practices, but that changed the past two weeks. He was absent one week to rehab away from the team, something which is very rarely allowed. The following week, the Colts excused him to attend to personal matters.

Taylor returned to the team Sunday and traveled to Philadelphia for the Colts’ Tuesday practice with the Eagles and Thursday night’s game at Lincoln Financial Field.

You can follow Mike Chappell on Twitter at @mchappell51.