The Indianapolis Colts held onto Pro Bowl running back Jonathan Taylor, but he still won't be with the team for a bit.

The Colts placed Taylor on the physically unable to perform (PUP) list Tuesday with an ankle injury, which means he will miss at least the team's first four games.

Owner Jim Irsay said he wouldn't entertain a trade for Taylor, who requested one amid a contract dispute. Last week, the Colts granted Taylor permission to seek a new destination.

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But the team wasn't going to ship Taylor just to make a move and could not find equal value in a deal. 

Several teams were reportedly involved in the potential sweepstakes, including the Miami Dolphins.

ESPN reported that Indy was looking for a first-round pick or a "package of picks that equates to as much" for Taylor.

Taylor has publicly shown his displeasure with the Colts this offseason amid a contract dispute with the club as he enters the final year of his rookie contract.

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Taylor believes he is deserving of a new contract, but Irsay has been stern in his belief Taylor shouldn’t get one at the moment. It's a bad market for NFL running backs with players like Saquon Barkley and Josh Jacobs — two elite backs like Taylor — being denied contract extensions from their respective teams.

Taylor and Irsay met in late July on a team bus was parked near the Colts’ practice field. Following the meeting, Taylor asked to be traded, but Irsay wouldn’t consider it, per NFL Network.

Taylor recently left the Colts to undergo additional rehab on his ankle that required offseason surgery to repair.

Two seasons ago, Taylor led the NFL in rushing yards with 1,811 and rushing touchdowns with 18. The ankle injury he suffered last season hindered his rushing numbers. He ran for 861 yards on 192 attempts with four touchdowns in 11 games.

Fox News' Scott Thompson contributed to this report.