Earlier this offseason, it was reported Alec Pierce and the Colts had yet to engage in extension talks. The fourth-year wideout’s camp has in fact spoken to the team about a second contract, but it is still unlikely one will be worked out any time soon.

Pierce is one of several Day 2 swings Indianapolis has taken at the receiver position under general manager Chris Ballard. The former second-rounder handled a regular offensive role during his rookie season before becoming a full-time starter in 2023. During that period, Pierce saw his yards per catch rate increase but managed only four touchdowns.

This past campaign resulted in a step forward in production despite the Colts’ quarterback issues. Pierce set a new personal best with 824 yards and caught a career-high seven touchdowns. His 22.3 yards per reception average led the NFL. At the age of 25, a raise should be in store on his next deal. It remains to be seen if it will come from Indianapolis, though.

“I haven’t even thought about it too much in terms of myself,” Pierce said when speaking about a potential Colts extension (via Joel A. Erickson of the Indy Star). “My agents might have talked with them a while back, but I feel like on that front, it’s going to be play the season out, kind of see where things go.”

While the door is certainly not closed to an arrangement keeping the Cincinnati product in place beyond 2025, Pierce’s comments strongly indicate he will at least test his market next spring. The Colts have not been shy about retaining in-house players during Ballard’s tenure as GM, although a philosophical shift was implemented this offseason. That could contribute to a 2026 free agent departure in this case.

The Colts have Michael Pittman Jr. on the books for another two years (with his $18MM base salary guaranteed in full for 2025.). He will be counted on to remain the team’s No. 1 wideout irrespective of who earns the starting quarterback gig. Ashton Dulin was re-signed on a two-year pact this offseason, and he will provide Indianapolis with a cost-effective depth option. Pierce is joined by Josh Downs (third round, 2023) and Adonai Mitchell (second round, 2024) as a Colts wideout attached to a rookie contract.

The team would therefore still have low-cost receivers to supplement Pittman in the event Pierce were to leave on the open market. It will be interesting to see if things change and efforts are made to work out a deal as the 2025 season progresses.

Alec Pierce had a breakout campaign in 2024, as the receiver paced the NFL with 22.3 yards per reception. As a 2022 second-round pick, the wideout is set to enter the final season of his rookie pact, and it sounds like the Colts are going to let the player simply play out that contract.

According to ESPN’s Stephen Holder, there are no current contract talks between the Colts and Pierce. The reporter writes that “there remains much uncertainty” about the player’s future in Indy, and there’s a “looming possibility” of Pierce playing elsewhere in 2026.

As Holder points out, both sides may be struggling to assign a price tag to Pierce. The receiver has only topped out at 823 receiving yards, and his 41 receptions as a rookie still represents a career-high. While there’s uncertainty if the 25-year-old can truly lead a depth chart, there’s no denying his big-play ability. According to Holder, Pierce’s seven catches of 40 or more yards is second to Ja’Marr Chase since 2022.

Part of Indy’s apprehension about a Pierce extension may be due to their continued investment at the position. The Colts have used some recent draft capital at the position, even after using their 2022 second-round pick on Pierce. The team used a 2023 third-round pick on Josh Downs, and they used a 2024 second-round selection on Adonai Mitchell. The team handed Michael Pittman Jr. a three-year, $71.5MM extension last offseason, so the team already has their WR1 spot accounted for.

For what it’s worth, Pierce isn’t overly concerned about his lame-duck status. In fact, the receiver told Holder that he’s ignoring his expiring contract altogether, and he’s simply focused on taking his game to another level in 2025.

“I like to take a very day-to-day approach with things,” Pierce said. “I don’t really think too far in advance. … That’s why I’ve got agents. They focus on that type of stuff and what’s coming up in the short term.”