2026 NFL Top 50 Free Agents

While this year did not bring a record-setting salary cap spike, a $20MM-plus bump occurred for the third straight offseason and fourth over the past five years. We continue to see year-to-year leaps that dwarf what the 2011 CBA brought.

Now that the franchise tag application deadline has passed, a clearer picture of the 2026 free agent market emerges. The aim for PFR’s top 50 remains contract-based, but as our Offseason Outlook series has illustrated, numerous deals carrying creative vesting structures have seen players secure favorable guarantees without the full amounts being locked in up front. So, this year’s list leans a bit more toward total guarantees as opposed to upfront security.

Although players like Travis Kelce and Aaron Rodgers are bound for the Hall of Fame, they will not appear here. Big names are still present within this value-based collection, however. Players who could be released at the start of the 2026 league year – as likely post-June 1 cuts – or soon after are not included, only those out of contract for the ’26 season appear below. Teams have until 11am CT March 9, when the legal tampering period begins, to keep free agents-to-be off the market.

In Year 34 of full-fledged NFL free agency, here are the top options for teams to target once the legal tampering period starts:

1. Tyler Linderbaum, C. Age in Week 1: 26

The fifth-year option not being truly position-based affects a few of this year’s free agents, none more so than Linderbaum. Because all offensive linemen are grouped together under the tag formula, centers are almost never tagged. Few guards are. Linderbaum has presented the best case for a center tag in many years, and he is days away from bridging the gap that exists between the two interior offensive line positions.

There are seven guards earning $20MM per year, yet Creed Humphrey’s $18MM-AAV contract tops the center market. Only two centers (Humphrey and Cam Jurgens) earn more than $12MM – now that Drew Dalman surprisingly elected to retire and the Titans have cut Lloyd Cushenberry. Linderbaum will almost definitely become the NFL’s first $20MM-per-year center, and this free agency could remind of when Antoine Winfield Jr.’s 2024 Bucs extension briefly dragged the safety market past cornerback.

Baltimore has offered Linderbaum a market-topping deal, and after the Combine, the 2022 first-round pick likely knows his price range. The Ravens only have a few days left before ceding exclusive negotiating rights and losing the best center in team history.

The Ravens have seen four center Pro Bowl seasons in their 30-year history; Linderbaum has three of them (Jeremy Zuttah received the other). The Iowa alum has anchored the Ravens’ interior O-line, as the team continues to see guards come and go. Losing him would be significant for the AFC North franchise.

ESPN’s pass block win rate metric ranked Linderbaum fourth among all interior O-lineman last season; he ranked 13th in 2024. Pro Football Focus, conversely, has graded Linderbaum as a far superior run blocker. The agile lineman has certainly made a considerable difference for a run-reliant offense. The Ravens were able to keep Ronnie Stanley from testing free agency at the last minute in 2025, though the longtime LT was seeking a third contract. Will they do the same with Linderbaum?

Humphrey’s Chiefs deal includes just more than $50MM guaranteed in total. Tyler Smith’s $81.26MM number tops the guard market. I would expect Linderbaum’s guarantee to land closer to the Cowboys guard than the Chiefs center.

Corey Linsley set a center AAV record as a 2021 free agent; Linderbaum should blow the current mark out of the water. Citing cap inflation, Adam La Rose’s most recent PFR mailbag pegged a price around $21MM per year as realistic. In the event of a widespread bidding war, something close to Smith’s $24MM AAV could even be required to close this deal. With Humphrey, Jurgens and Frank Ragnow before them not testing the market when they signed big-ticket deals, future center extension aspirants may owe a debt of gratitude to Linderbaum moving forward

2. Alec Pierce, WR. Age in Week 1: 26

Like the changing of the guard the Colts observed when Michael Pittman Jr. usurped T.Y. Hilton in the wideout pecking order, Pierce made his case as Indianapolis’ WR1 in 2025. The former second-round pick ripped off his first 1,000-yard season despite the Colts splitting their final five games between Riley Leonard and a 44-year-old Philip Rivers at quarterback. Pierce paced the NFL in yards per reception for a second straight season, posting a 21.3-yard average a year after managing (somehow) a 22.3-yard number and 824 total with Anthony Richardson targeting him.

Richardson completed fewer than 48% of his passes that season, one of the least accurate starter slates this century, but Pierce (824 yards in 2024) continued his ascent from the Matt Ryan/Gardner Minshew years. He hit another gear in 2025 (1,003 yards in 15 games) and will benefit soon – from either a Colts re-signing or a big-ticket free agency deal. With George Pickens franchise-tagged, Pierce tops this year’s receiver market.

That is an interesting distinction for a player who has never caught more than 47 passes in a season. Pierce is maybe more high-end No. 2 than true No. 1, but this is typically the type of player who cashes in on the market. As Daniel Jones is the best quarterback Pierce has played with (with Ryan at the end by his Indianapolis stint), teams undoubtedly see growth potential in the deep threat.

Fifteen receivers are tied to $50MM guarantees; not counting Travis Hunter’s rookie deal, another six secured at least $40MM in total guarantees. Every player among that contingent caught at least 58 passes in a season before signing his second contract (11 recorded at least one 90-reception season). Of that group, all but two (Jameson Williams and Jerry Jeudy) had posted 70-catch seasons. Williams $66.13MM guaranteed without the benefit of free agency, while Eagles WR2 DeVonta Smith is at $69.99MM. Both may be better than Pierce, but the open market awaits.

Pierce’s Devery Henderson-like profile differs, making him an unusual player with regards to this WR salary bracket. But he will be able to infiltrate it soon. It will be interesting to see if the team that signs Pierce will call on him to be its lead wideout – the expected salary would make that likely – or cast him as a high-end complementary cog. The former second-round pick will soon be an outlier when it comes to reception volume among upper-crust WR earners.

3. Jaelan Phillips, EDGE. Age in Week 1: 27

This year brings a deep crop of free agent edge rushers. With this being a premium position, questions surround the lot of prime-years players available. Phillips is coming off a bounce-back season, once under-the-hood numbers are considered, and will garner considerable free agency attention. The Eagles were able to keep breakthrough linebacker Zack Baun from testing the market last year, but they are running out of time with Phillips.

Philly sent Miami a third-round pick for the rental rusher, and while he only finished his comeback season with five sacks, the 2021 first-rounder’s 35 QB pressures ranked 12th leaguewide. His pressure rate (18.8% — far north of Trey Hendrickson or Odafe Oweh’s 2025 numbers) ranked fourth among players with at least 250 defensive snaps.

Finishing a season healthy did maybe as much for Phillips’ stock, after he went down with Achilles (2023) and ACL (2024) tears. Phillips’ injury past stretches back to college, when he briefly retired from the sport after a concussion and other maladies (including some from a moped accident). A transfer to Miami, however, reenergized him.

The former five-star recruit landed on the first-round radar with the Hurricanes and showed plus form with the Dolphins, combining for 15.5 sacks over his first two seasons. Year 2 included a career-high 25 QB hits. The 6-foot-5 EDGE was on his way to a career-best season in 2023, tallying 6.5 sacks and seven tackles for loss in eight games. A Black Friday Achilles tear stalled his momentum, and a September 2024 ACL tear continued the midcareer misery.

Josh Sweat did not carry injury concerns and received “only” $41MM guaranteed in total from the Cardinals. That topped last year’s EDGE market, where Chase Young – who did carry major injury concerns – received $33MM guaranteed. Phillips hovers between these two in age, but his extensive injury past may place a cap on this market.

But with the NFL’s salary ceiling rising yet again, it would be hard to see this market settling south of $20MM per year. Last year, the Chiefs and Bills agreed to extensions (with George Karlaftis and Greg Rousseau, respectively) that included $64.8MM and $54MM in total guarantees. Phillips’ camp, representing a player who matches that duo with zero Pro Bowls, can aim for that range next week.

4. Trey Hendrickson, EDGE. Age in Week 1: 31

Among this market’s prime pass rushers, Hendrickson’s resume laps his peers. The Bengals sack ace finished back-to-back seasons with 17.5 sacks and has two more campaigns (2020, 2021) with at least 13. Hendrickson recorded at least 24 QB hits from 2020-24, topping out at 36 in managing to finish as Defensive Player of the Year runner-up on a bad 2024 Cincinnati defense. The Bengals appear set to lose their five-year defensive end cornerstone; this was preventable, but the team’s antiquated stand against post-Year 1 salary guarantees prevented an extension from being completed in 2025.

The Bengals offered Hendrickson a backloaded extension – three years, $95MM – last year but saw the disgruntled D-end reject it due to insufficient guarantee protection beyond Year 1. The Steelers’ T.J. Watt extension included full guarantees for the 2026 and ’27 seasons. Watt is more accomplished than Hendrickson, but he is also 31 and had tallied fewer sacks between the 2023 and ’24 seasons. The Bengals’ offer also trailed the Texans’ Danielle Hunter AAV of $35.6MM despite the latter being the same age with a similar resume.

Hendrickson agreed to a one-year, $21MM extension in 2023 in fear the Bengals would use the franchise tag on him in 2025. With the Tee Higgins saga lasting past that point, Hendrickson miscalculated that. He now resides in a similar situation to Haason Reddick.

Also starting slowly, Reddick joined Hendrickson as a 2017 draftee who broke through in a 2020 contract year. Both players signed $15MM-per-year deals – Hendrickson in 2021, Reddick in 2022 – they outplayed. Age became an issue for Reddick, whose 2024 holdout backfired, and it is worth wondering how much it will impact Hendrickson’s free agency.

Last year represented a clear window for Hendrickson to cash in – at 30 and coming off the two straight top-level pass-rushing seasons – but he was negotiating with a difficult adversary. And he underwent season-ending core muscle surgery after a seven-game campaign. That will dock Hendrickson’s stock, but by how much?

From 2016-25, there have been 79 10-sack seasons from players aged 27-30. In that span, only 17 such seasons exist from players aged 31-34. These are the years a Hendrickson suitor is acquiring. Among pure EDGE players, that age-31-34 sack number plummets to 11. Hendrickson should do well next week, but the decision to sign that Bengals extension in 2023 could cost him thanks to an injury-shortened 2025.

5. Rasheed Walker, T. Age in Week 1: 26

When the Rams and Ravens respectively took Alaric Jackson and Ronnie Stanley off last year’s market, Dan Moore Jr. benefited. A much-criticized Steelers tackle on his rookie contract, Moore became the NFL’s seventh-highest-paid left tackle at the time of signing. His four-year, $82MM deal – one that outflanked Jackson and Stanley’s pre-free-agency deals and Dion Dawkins and Garett Bolles’ 2024 extensions – represents a good guide for Walker, who received better reviews on his Packers rookie pact.

The Packers turned to Walker, a 2022 seventh-round pick, as their David Bakhtiari fallback option and saw him far outplay his draft position. Walker started 48 games from 2023-25, fending off first-round pick Jordan Morgan for the Green Bay LT gig. Morgan is poised to commandeer it (by default, as Broderick Jones did in Pittsburgh post-Moore), but Walker will cash in elsewhere.

Walker ranked 11th in pass block win rate last season and 14th in 2024. PFF was a bit less bullish due largely to the Penn State product’s run blocking. The advanced metrics site never ranked Walker higher than 40th overall among tackles. Similar skepticism did not derail Moore, and Walker will almost definitely do better than the $50MM guarantee Moore received from the Titans.

Seven LTs are on contracts that include at least $50MM in total guarantees. Not counting Will Campbell’s rookie deal, four more secured at least $40MM guaranteed. It would be stunning if Walker did not land at least $40MM guaranteed. Considering how rare it is that early-prime LTs hit the market – like the Steelers, the Packers used a first-round pick on a blindside successor (Morgan) – the former No. 249 overall pick will be one of this year’s FA winners.

6. John Franklin-Myers, DL. Age in Week 1: 30

The Broncos extended six players between late July and their bye week. After paying top-priority talents Courtland Sutton, Zach Allen and Nik Bonitto in camp, Denver turned to three other regulars – center Luke Wattenberg, defensive tackle Malcolm Roach and kicker Wil Lutz – during its bye. Franklin-Myers did not expect a new deal and has likely known what is about to happen on the market.

Although Franklin-Myers is approaching an age-30 season, the runway is clear for him to cash in. He is the best interior D-line option on this market – probably by a wide margin. After last year produced Milton Williams and other attractive interior D-line options, no one is rivaling Franklin-Myers – as of now, at least – in terms of unattached inside pass rushers.

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Colts WR Alec Pierce To Test Free Agency?

MARCH 4: Pierce sounds ready to hit the open market. As a guest on Up & Adams on Wednesday, Pierce told Kay Adams: “I love Indy… but at this point, I’ve kind of earned the right to explore free agency. See what’s out there.”

MARCH 3: The countdown to the franchise tag deadline continues, and the Colts face a critical decision. Both Daniel Jones and Alec Pierce are pending free agents at the moment, and teams can only use one tag in a given offseason.

Working out an long-term deal with at least one of the two would of course create a more straightforward decision for GM Chris Ballard and Co. Talks with Jones and Pierce have taken place, and deadlines have been known to result in contract agreements around the NFL. That could be the case for Indianapolis.

ESPN’s Stephen Holder reports there has been “positive movement” over the past 24 hours with respect to negotiations with Pierce. An agreement this afternoon “feels possible,” he adds. Of course, nothing has been finalized yet and the Colts need to keep in mind Jones’ situation. A transition tag could be in store in his case, something which would lead to a reduced one-year cost at the quarterback position. That would also, however, leave the door open to Pierce departing in free agency.

While playing out his rookie contract, the wideout established himself as more than a deep threat. Pierce’s overall skillset has drawn strong reviews, and at the age of 26 (as of May), he is in line to serve as a highly productive wideout for years to come. Pierce will not have a hard time lining up suitors in the event he reaches the open market. Indianapolis could prevent such a scenario with a long-term accord or – if the team leaves Jones’ future uncertain – the franchise tag.

A tag in Pierce’s case would cost $27.3MM, the amount George Pickens is due to earn from the Cowboys unless a new deal is worked out. That figure would be fully guaranteed and mark a massive raise compared to Pierce’s earnings on his rookie deal. A multiyear pact would accomplish the same feat while leaving the Colts free to tag Jones. Albert Breer of Sports Illutrated notes the 1,000-yard wideout is understandably seeking clarity on the team’s quarterback situation before committing to a big-ticket contract.

Pierce commanding a $25MM-per-year salary should be considered in play, Breer adds. The 1,000-yard receiver could score a deal, as this market’s top receiver, near $30MM AAV. Only eight receivers are tied to $30MM-per-year prices, and that number will fall to seven if/once the 49ers release Brandon Aiyuk. None of the $30MM-plus-AAV wideouts hit free agency to secure those terms, with extensions leading to those deals in each case.

Jones impressed when healthy in 2025, his debut Colts campaign. The former Giant and Viking suffered an Achilles tear, however, something which complicates his market value. Even so, Jonathan Jones of CBS Sports states (video link) Indianapolis’ choice at this point is realistically down to using the franchise or transition tag to ensure stability under center. That approach will be especially viable if Pierce agrees to a new deal, and it will be worth watching closely to see if an agreement can be reached ahead of the 3:00pm tag deadline.

Colts Place Transition Tag On Daniel Jones

To no surprise, Colts pending free agent quarterback Daniel Jones will not reach the open market unfettered. The Colts are placing the $37.833MM transition tag on Jones, Tom Pelissero of NFL Network was among those to report.

This has been the expected outcome for at least a few days, though it will prevent the Colts from placing either the franchise or transition tag on pending free agent wide receiver Alec Pierce. Teams are only allowed to tag one player. The Colts and Pierce are progressing toward a multiyear deal. Indianapolis will have exclusive negotiating rights with Pierce until the legal tampering period opens March 9.

The 28-year-old Jones follows Jeff George (Falcons, 1996) as the second quarterback to receive the transition tag since the NFL introduced it in 1993. Unlike the franchise tag, a team that loses a transition player to an offer sheet is not entitled to any compensation. The Colts still have the right to match any offer that may come in, though, and they have until July 15 to continue working toward a multiyear agreement.

Jones, whom the Giants drafted sixth overall in 2019, has already signed one massive contract in his career. With the Giants of the belief Jones was a franchise QB, they inked him to a four-year, $160MM extension in March 2023. That wound up a regrettable decision for New York, which waived a struggling Jones in November 2024. He quickly joined the Vikings’ practice squad, but with Sam Darnold their starter then, Jones saw no game action.

The Vikings allowed Darnold to leave for Seattle in free agency last March. Jones exited for Indianapolis’ $14MM payday, but not before he turned down a richer offer from Minnesota. He believed he had a better path to playing time with the Colts than the Vikings, who were prepared to hand the reins to 2024 first-rounder J.J. McCarthy. The Colts also have a recent first-round QB in Anthony Richardson, though his stock has dropped considerably since he went fourth in the 2023 draft. Jones had little trouble beating out Richardson to become the Colts’ starter entering last season.

While expectations were low for the Jones-led Colts at the outset of the season, they stormed to a 7-2 start before the Nov. 4 trade deadline. Jones looked like a far better player than the one who regularly underwhelmed with the Giants. With the Colts in contention for the No. 1 seed in the AFC at the time, general manager Chris Ballard traded his 2026 and ’27 first-round picks to the Jets for star cornerback Sauce Gardner. The gamble blew up in Ballard’s face during an injury-ravaged second half for the Colts.

Gardner, No. 2 corner Charvarius Ward and defensive tackle DeForest Buckner all missed significant time down the stretch. Worst of all, Jones tore his Achilles in a Week 14 loss to the AFC South rival Jaguars. That proved to be a fatal blow for the Colts, who lost their third straight game that day and did not win again.

Bringing 44-year-old Philip Rivers out of retirement to help cover for season-ending injuries to Jones and Richardson (orbital fracture) did not stop the bleeding for the Colts. Once 8-2, they closed the year on a seven-game skid and finished 8-9 for the second season in a row. Owner Carlie Irsay-Gordon nonetheless retained Ballard and head coach Shane Steichen.

Although Jones is just three months removed from a serious injury, the Colts are optimistic enough about his recovery to risk a $37.833MM guarantee for next season. Richardson, who has requested a trade, and 2025 sixth-round pick Riley Leonard are the only other passers on the Colts’ roster. There is still at least some chance the Colts will lose Jones (the Vikings are reportedly interested in a reunion), which will continue to make this an interesting situation to watch.

Colts, Daniel Jones Still Discussing Deal; Vikings ‘Closely Monitoring’ QB

As the clock ticks toward Tuesday’s 3 p.m. CT tag deadline, the Colts and pending free agent quarterback Daniel Jones are continuing to negotiate a long-term contract, Jonathan Jones of CBS Sports reports. If an agreement doesn’t come together by then, Indianapolis is expected to place either the $43.39MM franchise or $37.8MM transition tag on Jones.

As of Sunday, the Colts and Jones were not close to reaching a deal. The team is reportedly leaning toward using the transition tag on Jones. Taking the less expensive route may give the Colts a better chance to retain their other top pending free agent, wide receiver Alec Pierce. However, they would be at far greater risk of losing Jones.

The Colts would have up to five days to match an offer for Jones, but if they passed on doing so, the signing team would not have to give up any draft compensation. Jones would be able to take offers all the way up to the third week in July. With most offseason business long over by then, It would likely be a catastrophic outcome for the Colts to lose him that late.

In all likelihood, nobody will tender an offer to Jones if the Colts go the franchise route. Doing so would force a team to part with two first-round picks for a quarterback who has been inconsistent throughout his seven-year career. If that isn’t prohibitive enough, Jones is recovering from a December Achilles tear. The former Giants first-rounder enjoyed his best season before then, but the injury dinged his stock.

Four days after the Giants waived Jones in November 2024, the Vikings added him to their practice squad. Jones finished the season with the Vikings, but he did not see any game action. Sam Darnold, who revived his career that season, was the Vikings’ starter during a 14-win outburst. Although Jones was down on the depth chart, he and Vikings head coach Kevin O’Connell developed a “mutual respect” during their short time together, according to Jonathan Jones.

Darnold and Jones became free agents the next offseason. Even though Darnold led the Vikings to a playoff berth, they had 2024 first-rounder J.J. McCarthy waiting in the wings. Re-signing Jones was reportedly a higher priority for the Vikings than keeping Darnold, but they wound up losing both signal-callers.

Jones turned down a better offer from Minnesota to sign with Indianapolis for $14MM. He saw an easier path to playing time in Indianapolis, where only disappointing 2023 first-rounder Anthony Richardson stood in his way. It was a good decision by Jones, who beat out the injury-prone and inaccurate Richardson for the starting job. Richardson requested a trade last month, though he has not encountered a strong market.

Meanwhile, McCarthy dealt with his own injuries and performance issues in a 10-game first season as a starter. The Vikings went 9-8 and missed the playoffs. The team has not given up on McCarthy, but it will consider other options as it attempts to rebound in 2026. There is at least a small chance of a reunion with Jones.

The Vikings are “closely monitoring” his situation in Indianapolis, per Jonathan Jones. They could pounce if the Colts don’t place a tag on the QB, Jonathan Jones adds. However, it is unlikely Daniel Jones will reach the market unfettered. If he does, the Vikings would have to win a bidding war. It would be an especially difficult task for a team that is a projected $45.51MM over the salary cap as of now.

Colts QB Anthony Richardson Requests Trade; Mutual Vikings Interest?

MARCH 2: Richardson does not have a strong trade market at this point, SportsBoom’s Jason LaCanfora reports to no surprise. NFL general managers and evaluators predicted Richardson’s value would be a Day 3 pick, with a fifth-rounder mentioned as the potential best-case scenario from the Colts’ perspective.

FEBRUARY 26: Signs continue to point to Anthony Richardson playing elsewhere in 2026. The embattled quarterback has requested a trade, James Boyd of The Athletic reports.

To little surprise, ESPN’s Stephen Holder adds the Colts have given Richardson’s camp permission to seek a trade. The former No. 4 pick’s value will not be particularly high given how his NFL career has played out so far. Nevertheless, the lack of established QBs on the market this offseason could lead to at least some interest.

When speaking at the Combine yesterday, Colts GM Chris Ballard offered praise for Richardson. The 23-year-old has only made 15 starts and 17 appearances during the regular season so far. An orbital bone fracture kept Richardson sidelined through the end of the 2025 campaign, although Ballard said he has now been cleared for football activities. Boyd confirms Richardson has regained full vision in his right eye.

That will be a welcomed development for all involved, but it remains to be seen how many teams will be willing to proceed with a trade acquisition in this case. In December, a trio of NFL staffers pegged Richardson’s value at a fourth-round pick (the cost paid by the Cowboys when they acquired Trey Lance). A deal along those lines would obviously represent a massive disappointment for Indianapolis, but it would pave the way for Riley Leonard to handle backup duties in 2026. Of course, the Colts are in the midst of negotiations on a new Daniel Jones contract to ensure he remains atop the depth chart moving forward.

As for potential Richardson landing spots, Cameron Wolfe of NFL Network points to Minnesota as one to watch. He reports there is a mutual interest between the Vikings and Richardson. Kevin O’Connell has established a track record of quarterback development during his time as Minnesota’s head coach, and taking on another reclamation project would make plenty of sense. Given J.J. McCarthy‘s struggles so far, the Vikings are expected to bring in competition under center this spring.

That could entail pursuing a more experienced option on the open market like Kirk Cousins or Derek Carr. Alternatively, the Vikings could look at Richardson as a buy-low candidate capable of winning the QB1 gig for 2026 while McCarthy develops. Richardson has one year remaining on his rookie contract and he is set to carry a cap charge of $10.82MM in 2026. A trade would essentially create an even split of that figure between cap savings and dead money for the Colts.

Colts Prepared To Use Transition Tag On QB Daniel Jones; Latest On WR Alec Pierce

The Colts are known to be working on new deals for QB Daniel Jones and WR Alec Pierce, both of whom are eligible for free agency this month. While it is unclear how much of a gap Indianapolis and Pierce have to bridge, ESPN’s Dan Graziano reports the team is not close to striking an accord with Jones.

If that does not change by Tuesday’s tag deadline, Graziano expects the Colts to put the transition tag on the 28-year-old passer. The transition tag comes with a $37.8MM cost, making it a less expensive option than the $43.9MM franchise tender.

In a transition tag scenario, Indianapolis would not be entitled to any draft compensation if it declines to match an offer sheet Jones might sign with another club, though it is easy to see the logic in the move: the Colts essentially would be allowing another team to do their negotiating for them, and if Jones does not find an outside offer to his liking, he may come back to Indy on a deal closer to the team’s preferred terms. If not, and if he plays out the 2026 season on the transition tag, then at least he will not consume as much of the cap sheet as he would on the franchise tag.

But while the transition tag is the cheapest of the tag options, the $37.8MM cap charge is still considerable. As Graziano suggests, it could preclude the Colts from reaching a deal with Pierce, despite their assurances that he will be back with the club in 2026, either on a long-term deal or a tag of his own. If the team has to use a tag this offseason, it would obviously prefer to use it on Pierce, whose franchise tender would be about $27MM and whose transition tender would be just shy of $24MM. 

Those numbers are roughly in line with what Pierce can expect on an annual basis on his next contract. We recently learned the big-play threat, who has led the league in yards-per-reception rate in each of the last two seasons, is expected to have a strong market if he makes it to free agency. In the Graziano piece linked above, ESPN’s Jeremy Fowler confirms Pierce’s market value has exceeded $20MM per year.

The fractured fibula and torn Achilles that Jones suffered in Week 13, which ended his season prematurely and which was the driving force in the Colts’ second-half collapse that kept them out of the playoffs, are not expected to impact his 2026 availability. Still, his injury history and the fact that his stellar (and surprising) play to open the 2025 campaign had already started to slip prior to the injuries could make it difficult for player and team to find common ground on a long-term pact.

2026 NFL Offseason Outlook Series

Pro Football Rumors is breaking down how all 32 teams’ offseason blueprints are shaping up. Going forward, the Offseason Outlook series is exclusive to Trade Rumors Front Office subscribers, and that link provides details on how to sign up for an annual membership.

This post will be updated as more Outlooks are published.

AFC East

AFC North

AFC South

AFC West

NFC East

NFC North

NFC South

NFC West

Colts, S Nick Cross In Talks; LB Zaire Franklin On Roster Bubble?

Making no secret of Daniel Jones and Alec Pierce being their top priorities, the Colts have big decisions to make in the coming days. The quarterback and 1,000-yard wide receiver’s statuses point Nick Cross out the door.

The former third-round pick has been a quality starter at safety over the past two seasons, and while multiple factors (the Jones and Pierce matters among them) could point the young DB out of town, Chris Ballard said (via the Indianapolis Star’s Nathan Brown) he has spoken with Cross’ agent about a possible re-signing.

I’m proud of Nick; I’m happy for Nick. Look, sometimes for players, there’s going to come a point where you and I don’t agree, and you don’t like me because of finances,” Ballard said during an appearance on The Fan Morning Show. “There’s this big pie, and I can slice it up and give you a piece of the pie, but someone (else) might be willing to give you a bigger piece, and if that happens, we’ve both done our jobs.

We’ve done our jobs developing you, and you’ve done your job taking the coaching and getting better each and every year, and you deserve that opportunity. So we’ll see what the future holds with Nick. He made it to free agency on a high note, and we’ll see how that works out.”

Not only is the QB-WR duo taking precedence here, but the Colts (projected $35.7MM in cap space, per OverTheCap) already made tremendous commitments in the secondary last year. They gave Camryn Bynum a four-year, $60MM deal and handed Charvarius Ward a three-year, $54MM contract in free agency. Months later, Indianapolis traded two first-round picks and Adonai Mitchell for Sauce Gardner, whom the Jets had just given a four-year, $120.4MM extension. With Kenny Moore on a three-year, $30MM contract, there does not seem to be room for Cross in Indy’s secondary on a second contract.

The Colts traded a 2023 third-round pick to move into the 2022 third round for Cross, who only made four starts over his first two seasons. From 2024-25, however, the Maryland product was a prolific tackler (266 combined stops) and registered 11 tackles for loss in that span. Cross, 24, started all 34 Colts games from 2024-25 and will be poised to land a nice second contract.

That said, this is a crowded safety market. Big money will not be available for the full lot of starter-level FAs. Jaquan Brisker, Bryan Cook, Alohi Gilman, Jalen Thompson, Kamren Curl, Coby Bryant, Jaylinn Hawkins and Andre Cisco are all 20-something starters unsigned. Veterans Kevin Byard, C.J. Gardner-Johnson, Kyle Dugger and Donovan Wilson are among the older starter-caliber cogs headed to the market. Some teams in need of safety help will benefit from this glut, which presents a buyer’s market. Though, Cross (25 in September) being on the young end will benefit him.

Age may be working against one of Indianapolis’ core defenders. Ballard did not ensure Zaire Franklin would be back with the Colts for a ninth season. Franklin (30 in July) is tied to a three-year, $31.26MM contract. The Colts would save $9MM by cutting their top tackler, who is due an $8.24MM base salary in 2026 — the final year of his deal.

I think you guys all know my feelings for Zaire Franklin,” Ballard said, via Brown. “We have a very close relationship. I thought he played good football, and the addition of Pratt, when we got him into the mix, he ended up adding a much needed will that we needed. The future, we’ll see. Pratt’s up. Zaire’s under contract, so we’ll see how that ends up playing out.”

When injuries slowed Shaquille Leonard, the Colts received a boost from another member of their deep 2018 draft class. A seventh-rounder out of Syracuse, Franklin has been a regular starter since the 2021 season. Primarily a special-teamer prior to that, Franklin became a late-blooming LB who landed three Colts contracts. He has two 170-plus-tackle seasons under his belt. After a 179-tackle 2023, Franklin led the NFL with 173 in 2024 en route to second-team All-Pro acclaim.

The Colts made a change at linebacker last year by letting E.J. Speed walk. They added ex-Lou Anarumo charge Germaine Pratt in-season. Pro Football Focus did not like the Franklin-Anarumo fit, ranking him as the NFL’s second-worst linebacker regular in 2025. Franklin, 29, would still generate considerable FA interest if released. With money perhaps needed for a franchise tag, veteran defenders like Franklin and perhaps Grover Stewart will be places to look for cap space.

WR Alec Pierce Expected To Have Strong Market

Colts wide receiver Alec Pierce is expected to draw heavy interest in free agency with several teams already interested in signing him.

In fact, Pierce is expected to receive more interest – though not a bigger contract – than fellow Colts pending free agent Daniel Jones, per ESPN’s Stephen Holder. The veteran quarterback has an uncertain outlook for the 2026 season as he recovers from a torn Achilles, but the Colts see him as their long-term starter. Other teams may be less certain, especially with a number of quarterbacks – including Anthony Richardson – also coming available this offseason.

The wide receiver market is less crowded. With the Cowboys using the franchise tag on George Pickens, Pierce will be the most valuable one available. The Colts might be more justified using the franchise or transition tag on him rather than Jones.

The transition tag, projected by OverTheCap to be $25MM, certainly makes sense. It is easy to see Pierce reaching that AAV on the open market. He is an excellent deep threat, having led the league in yards per catch in the last two years, and rounded out his game in 2025. He is also just 25 years old and clearly has the potential to grow further.

However, the tag would take up a significant portion of the Colts’ current salary cap space. They would have to make more room via restructures and cuts, though there are several candidates. Agreeing to an extension with Pierce would reduce his cap hit, but the transition tag would give him a chance to test his market.

The franchise tag, however, would likely keep Pierce in Indianapolis. Other clubs are unlikely to be willing to move two first-round picks and hand him a contract the Colts would not match. The franchise tag is projected to be $28.8MM, which would raise the floor in extension negotiations. But if Pierce’s value is approaching that figure anyway, Indianapolis may be best served by keeping him off the market.

Using a tag on Pierce would take it out of play for Jones and increase pressure on the Colts to get a deal done with the latter before free agency.

Colts GM Chris Ballard On Anthony Richardson, Michael Pittman Jr.

Injuries and disappointing play have defined Colts quarterback Anthony Richardson‘s career since he entered the NFL as the fourth overall pick in 2023. The former Florida Gator has played just 17 NFL games, including two brief appearances in 2025, and there is widespread skepticism that he will turn into a viable starter. However, Colts general manager Chris Ballard is not writing off the 23-year-old yet.

“I see a future (for Richardson in the NFL). Yeah, kinda like with any player, you don’t know what’s going to happen. Things change,” Ballard said Tuesday (via Nathan Brown of the Indianapolis Star). “But we like Anthony.”

Andrew Luck‘s shocking preseason retirement in 2019 left the Colts without a long-term plan under center. The Luck-less Colts deployed Jacoby Brissett, Philip Rivers, Matt Ryan and Carson Wentz as their starter for a year apiece from 2019-22. Tired of cycling through short-term stopgaps, Ballard bet big on the athletically gifted Richardson going from raw prospect to franchise quarterback.

The Richardson gamble has not worked out at all. Various injuries and demotions limited him to 15 starts in his first two seasons. During an 11-start 2024, the 6-foot-4, 244-pounder completed an astoundingly low 47.7% of 264 pass attempts. The Colts left the door open for Richardson to remain their QB1 last year, but he would have had to beat out free agent acquisition Daniel Jones. Not only did Jones win the summer competition, but the former Giants first-rounder went on to enjoy the best season of his career.

Jones’ resurgent season concluded with a ruptured Achilles in Week 14, which could have opened the door for a healthy Richardson down the stretch. Unfortunately for Richardson, he was on the shelf then after suffering an orbital fracture in a freak accident with an exercise band in October. Richardson finished 2025 on IR while continuing to deal with vision problems. He is now “cleared to play football,” Ballard announced.

With both Jones and Richardson unavailable last December, the Colts stunned in calling the 44-year-old Rivers out of retirement. Rivers, then a Pro Football Hall of Fame finalist, agreed to reset his Canton clock five years and come back in an effort to save the free-falling Colts. All three of Rivers’ starts were must-see TV, but the Colts didn’t win any of them. After going 8-5 in Jones’ starts, the Colts went 0-4 with Rivers and Riley Leonard to complete a second-half collapse.

The Colts will not run it back again with Rivers, who went back into retirement at the end of the season. Meanwhile, Jones is coming off a serious injury and without a contract for next 2026. However, the pending free agent is expected to re-sign with the Colts and continue as their starter. That would leave Richardson as a backup again, which may be the most likely outcome. Richardson would not bring back much in a trade, and releasing him wouldn’t save the Colts any money.

If Richardson is still on the Colts’ roster on May 1, it would be fair to expect them to decline his projected $23.50MM fifth-year option by then. That would set Richardson up for a trip to free agency in March 2027. He may have to wait until then to potentially salvage his career with another team.

Like Richardson, Colts receiver Michael Pittman Jr. is facing an uncertain future this offseason. The six-year veteran logged 80 catches, 784 yards and seven touchdowns in 2025. Those aren’t bad numbers, but they may not be worth a bloated $29MM cap hit next season. While releasing Pittman before March 15 would save the Colts $24MM, parting with him is not a foregone conclusion.

“I think the world of Pitt and who he is as a player,” Ballard said (via Brown). “Any suggestion that he’s not going to be here (next season) is a pure hypothetical, in my mind.”

Despite Ballard’s affinity for Pittman, he will remain a player to monitor over the next couple of weeks. Getting Pittman’s money off the books may aid the Colts in their quest to keep Jones and pending free agent wideout Alec Pierce.

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