Colts big-play wide receiver Alec Pierce is scheduled to reach free agency for the first time during the offseason. Pierce said back in July that he didn’t anticipate signing a contract extension with the Colts. A new deal hasn’t come together four months later, but it appears his chances of remaining in Indianapolis beyond this season have improved.
The Colts decided before the season that it wouldn’t be “financially prudent” to re-sign Pierce, according to Stephen Holder of ESPN. Things have changed during the team’s unexpected 8-2 start, however. Pierce has been more productive than ever, in part because he has succeeded in running a greater variety of routes. As a result, “the idea of him returning is now very real,” Holder writes.
The Colts held out hope that the presence of 2024 second-round pick Adonai Mitchell would help make up for a departed Pierce. That’s not going to happen, though, as the Colts sent Mitchell to the Jets in a blockbuster before the Nov. 4 deadline.
Packaging the disappointing Mitchell with a pair of first-round picks netted the Colts star cornerback Sauce Gardner. It so happens that Gardner is close friends with Pierce, a former Cincinnati Bearcats teammate.
Pierce entered the NFL with Gardner as a 2022 draft pick. The Colts used a second-rounder on Pierce, taking him 53rd overall. The 6-foot-3, 215-pounder missed just two games in his first three years and averaged approximately 37 catches, 644 yards, and four touchdowns in those seasons. He easily set career highs in yards (824) and scores (seven) while working with quarterbacks Anthony Richardson and Joe Flacco in 2024. Pierce led the league with a whopping 22.3 yards per catch.
A year later, Pierce has established a rapport with new signal-caller Daniel Jones, who beat out Richardson for the job in the summer. Thanks in part to Pierce’s help, Jones has enjoyed a stunning resurgence. While Pierce has only caught one of Jones’ 15 TD passes, he’s once again atop the league in YPC (20.9). With 28 receptions and 585 yards through eight games, Pierce is on track for career highs in those categories. He has joined rookie tight end Tyler Warren, fellow wideouts Michael Pittman Jr. and Josh Downs, and MVP-contending running back Jonathan Taylor in giving Jones a highly productive group of pass catchers.
With Pierce heading for his first 1,000-yard season, the 25-year-old is trending toward a lucrative second contract. A deal worth upward of $20MM per year is a possibility, Jeremy Fowler of ESPN reports. The Colts currently have around $48MM in spending room for 2026, per Over the Cap, but that’s without taking a new Jones pact into account.
Jones, a former Giants starter and Viking backup, is playing this season on a $14MM agreement. That’s a relative pittance compared to what Jones is likely to earn on his next accord. The Colts plan to make Jones a long-term offer, which figures to eat up a sizable chunk of cap space. A best-case scenario would include Pierce continuing to catch passes from Jones in a Colts uniform in 2026, but it remains to be seen whether they’ll make the finances work.