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 Working On Re-Signing Daniel Jones, Alec Pierce; Franchise Tag In Play
FEBRUARY 24: Colts general manager Chris Ballard said at the Combine (via Chappell) that the team was planning to retain both Jones and Pierce. He added that “both sides are driven to get it done,” and characterized the ongoing negotiations as “very positive.”
Ballard also acknowledged the possibility of using the franchise tag on one of the two players, saying “it’s not what we want to do, but it’s a tool we have.”
FEBRUARY 23: The Colts were one of the biggest stories in the NFL in 2025, for reasons good and bad.
The good was a surprising 8-2 start anchored by an even more surprising player: quarterback Daniel Jones. The bad was an 0-7 finish to the year, which included Jones’ fractured fibula and torn Achilles in Week 13 and Philip Rivers‘ dramatic return to the NFL as his replacement.
The Colts had vastly different strengths of schedule during the two halves of their season, with a relatively easy slate to start and a murderer’s row of opponents down the stretch. That, combined with Jones’ injury, makes it hard to know if the current iteration of the team can compete in 2026.
The Colts seem to think so. They are pursuing extensions with Jones and wide receiver Alec Pierce, per NFL Network’s Tom Pelissero. Both are slated to hit free agency in March after breakout years in Indianapolis.
Jones, 28, did not just put up the best numbers of his career in 2025. He finished the year ranked among the NFL’s top 10 quarterbacks in yards per attempt, yards per game, completion percentage, passer rating, and total QBR. He also led three game-winning drives and three fourth-quarter comebacks in just 13 starts.
The seven-year veteran’s play started to slip before his injuries, which are not expected to sideline him into the 2026 season. But his injury history is a concern, and he did not get the chance to prove himself against many top defenses.
That makes Jones’ valuation a little tricky, but somewhere in the region of $35MM would make sense. Fellow 2018 first-round reclamation projects Sam Darnold and Baker Mayfield signed for similar amounts after re-establishing themselves as starting-caliber QBs. Jones and the Colts have mutual interest in reaching a deal, according to Pelissero.
Pierce, 25, posted career-highs of 47 receptions and 1,003 receiving yards. He also led the NFL in yards per reception for a second year in a row. With George Pickens likely to be tagged by the Cowboys, Pierce could be the top wideout available in free agency. The Colts will try to lock him up before he hits the open market, but that may require an offer well over $20MM per year.
Discussions with both players “have been good” thus far, per FOX 59’s Mike Chappell, with negotiations expected to continue at the Combine in Indianapolis this week.
A franchise or transition tag is an option for Jones or Pierce (though not both), per Pelissero, though the latter makes far more sense for their valuations. A transition tag for Jones would cost $40.8MM, while Pierce’s would cost $25MM. However, those numbers would be on the high-end for a potential long-term deal and the tagged player would be able to negotiate with other teams.
The Colts are currently projected to have $35.7MM in cap space in 2026, per OverTheCap, with ways to create upwards of $50MM more. The team could afford to extend both players, or extend one and tag the other while still having room to address other needs in free agency.
2026 NFL Franchise Tag Candidates
We are now in Year 34 of the franchise tag, a retention tool that came about during the same offseason in which full-fledged free agency spawned. The NFL salary cap is rising at a rate allowing teams to hammer out more extensions than in previous periods. That has helped dilute free agency talent pools. This led to a 2025 landscape in which only two players — Tee Higgins and Trey Smith — received the franchise tag. The cap, which stood at $279.2MM in 2025, is expected to rise beyond $301MM this year.
This year’s free agent class looks to feature only one tag lock, but a handful of players make sense as candidates to be kept off the market. An antiquated NFL system regarding positional classifications also affects this year’s free agency crop, as a couple of high-end UFAs-to-be (Tyler Linderbaum, Devin Lloyd) would likely be kept off the market if the league modernized how it sorted positions with regards to tag prices.
Teams who use the franchise or transition tag have until July 15 to complete an extension; otherwise, negotiations cannot restart until after the 2026 season. The transition tag does not bring any compensation back for an unmatched offer sheet, but the two-first-rounder component associated with a franchise tag has not been especially relevant in ages. Although offer sheets have come out in previous eras (Sean Gilbert and Dan Wilkinson signed unmatched offers in the 1990s), clubs avoid these in fear of an unmatched proposal requiring two first-round picks to be sent to the tagging team.
The tag window opens at 3pm CT today. With clubs having until 3pm CT on March 3 to apply tags, here is who may be cuffed:
Likely tag recipients
George Pickens, WR (Cowboys)
Projected tag cost: $28.82MM
The Cowboys have regularly turned to the tag over the past decade. They cuffed DeMarcus Lawrence in 2018 and ’19 before locking down Dak Prescott in 2020 and ’21. The latter Prescott tag was procedural, as the quarterback used the threat of a lofty second tag number hitting Dallas’ cap sheet as leverage toward a player-friendly extension — one that laid the groundwork for his 2024 player-friendly extension. The Cowboys then kept Dalton Schultz (2022) and Tony Pollard (’23) off the market. After two years without unholstering their tag, the Cowboys appear all set to prevent Pickens from reaching free agency.
Acquiring Pickens in a May 2025 trade with the Steelers — which featured a 2026 third-round pick as the top asset going back to Pittsburgh –Dallas reaped immediate benefits from that swap. Pickens, 24, smashed his career-high receiving mark with 1,429 yards and nine touchdowns. That booked the former second-round pick his first Pro Bowl honor; more impressively, Pickens was named a second-team All-Pro. The mercurial ex-Steeler WR1 was more than 300 receiving yards clear of CeeDee Lamb for the Cowboys’ receiving lead; even though Lamb missed three games, Pickens’ per-game average (84.1) better Lamb’s (76.9).
A tag surfaced on the radar here in mid-November, and momentum has steadily built for Pickens to follow in Dez Bryant‘s footsteps as a Cowboy wideout being kept off the market. It will take a near-Saints-level odyssey for the Cowboys to create sufficient cap space for a Pickens tag and reasonable spending room; they are projected to be more than $30MM (per OverTheCap) north of the 2026 salary ceiling, but enough smoke has emerged here — after Pickens fit the tag profile upon arrival — to make it safe to expect this outcome.
The Steelers shipped out Pickens in part because of reliability concerns, but the 6-foot-3 playmaker outperformed — with a considerable QB upgrade in Prescott — his previous work. With Lamb tied to a $34MM-per-year deal and Prescott on an NFL-record $60MM-AAV extension, the Cowboys are far from certain to extend Pickens. A tag-and-trade play has surfaced as a possibility, but with negotiations not having begun as of early February, expect the Cowboys to use the tag to at least buy themselves more time on their ultra-talented WR2.
On tag radar:
Breece Hall, RB (Jets)
Projected tag cost: $14.54MM
The Chiefs offered a fourth-round pick for Hall at the deadline, but the Jets held onto their starting running back after having asked for at least a third-rounder. Hall denied a report he was seeking a New York exit — after the blockbuster deals involving Sauce Gardner and Quinnen Williams — but he could have a chance to explore his value on the open market soon. The Jets, however, have spoken highly of the 1,000-yard rusher. The tag has surfaced as a possibility.
Hall, 24, is more than two years younger than Etienne. He will thus command more in free agency. The former second-round pick is also more than three years removed from the ACL tear that sidetracked his rookie season. The Jets waited on a Hall extension, keeping him on his rookie contract while giving Gardner and Garrett Wilson big-ticket deals, but Aaron Glenn has spoken highly of the Iowa State alum.
Gang Green wants to retain Hall. The easiest way for that to happen would be to extend his negotiating window via the tag. A $12MM-per-year offer could await the fifth-year player, making a tag logical. If the Jets were to place the transition tag on Hall, it would cost them a projected $11.73MM. They would receive no compensation in the event of an unmatched offer sheet, thus allowing another team to dictate the contract structure a la the Packers’ Kyle Fuller offer sheet in 2018.
The Jets saw Hall sidekick Braelon Allen miss much of the season, but the former Joe Douglas-era fourth-round pick remains signed through 2027. Allen gives the Jets some protection against a Hall exit, with a mid-round 2027 compensatory pick possible as well. But Hall is a dynamic RB that will be an attractive FA commodity if unattached come March 9. The Jets have a big decision to make over the next two weeks.
Trey Hendrickson, DE (Bengals)
Projected tag cost: $34.8MM
The defensive end tag is projected to come in at $27.32MM, but because Hendrickson was attached to a $29MM salary (following a late-summer raise), he is the rare tag candidate to whom the 120% rule would apply. As PFR’s glossary indicates, “the amount of the one-year offer is determined by a formula that includes the salary cap figures and the non-exclusive franchise salaries at the player’s position for the previous five years. Alternately, the amount of the one-year offer can be 120% of the player’s previous salary, if that amount is greater.” In Hendrickson’s case, it would be.
Colts Could Apply Franchise Tag To WR Alec Pierce?
Daniel Jones represents the top pending free agent for the Colts. Keeping him in the fold will be a major offseason priority, but the same is also true of Alec Pierce. 
[RELATED: Colts To Begin Jones Contract Talks Soon]
Pierce is set to see his rookie contract expire next month. A major raise is in store regardless of where it will come from. The 25-year-old topped 1,000 yards in 2025, and he led the NFL in yards per catch (21.3) for the second year in a row.
As the Colts deal with negotiations on the Jones front, the franchise tag could be used as a means of ensuring he will not depart in free agency. That may also come into play in Pierce’s case. ESPN’s Jeremy writes Indianapolis could tag the former second-rounder, a move which would follow the path taken with fellow WR Michael Pittman Jr. in 2024. Of course, teams can apply the tag to only one play in any given offseason.
Pittman was kept off the market by means of the franchise tag at a time when it carried a cost of $21.82MM. He wound up agreeing to a long-term pact, and his extension carries an average annual value of $23.33MM. Final figures for 2026 tags have not yet emerged, but the receiver position is currently projected to cost over $28MM. That amount would be guaranteed in full in the event Indianapolis were to tag Pierce, who showcased an ability to operate as more than a deep threat this season.
Pittman’s contract only has one season remaining. He is due to carry a cap charge of $29MM in 2026, so an extension aimed at lowering that figure could be pursued. The Colts also have veteran Ashton Dulin in the fold and Josh Downs attached to his rookie contract. The decision to trade away Adonai Mitchell increased the value of retaining Pierce, though, and general manager Chris Ballard confirmed after the season working out a new pact is high on the team’s to-do list.
Pierce spoke last month about the possibility of reaching the market for the first time in his career. He also stated an affinity for the organization, though, leaving the door open to a second Colts pact. The window for using the franchise tag will open next week and close on March 3. Indianapolis will be a team to watch closely given the potential for Jones or Pierce to be tagged.
Colts To Prioritize Alec Pierce Re-Signing; Kwity Paye Likely To Depart
Alec Pierce has led the NFL in yards per reception in each of the past two seasons. He surpassed 800 yards in 2024 despite Anthony Richardson‘s accuracy issues and reached a career-high 1,003 this season.
The Colts’ top deep threat is on track for free agency. Even before Pierce crossed the finish line for his first 1,000-yard season, he was expected to do well in free agency. Now, the Colts want to make sure he stays. Chris Ballard confirmed (via Fox59’s Mike Chappell) keeping Pierce is a priority. This comes after the Cincinnati alum said he was open to re-signing.
Usually aggressive when it comes to retaining his own (not so much with outside hires, though that is changing), Ballard has been able to work out numerous extensions and re-signings for core players. The Colts, however, already paid one wide receiver — via Michael Pittman Jr.‘s three-year, $70MM extension — and are planning to enter talks to re-sign Daniel Jones. Their Richardson plan did not work out, pointing to a veteran QB contract being back on the payroll. That will complicate matters with Pierce.
Pittman’s deal runs through 2026, potentially giving the Colts a chance to reevaluate matters with their No. 1 receiver. Jones established a better rapport with Pierce this season, with Pittman only accumulating 784 receiving yards — after 808 in 2024. Pittman missed one game over that span, while Pierce managed to cross into 1,000-yard territory after missing two this year. After averaging 22.3 yards per catch in 2024 and 21.3 this season, Pierce will be a coveted piece on this year’s market.
George Pickens will be the top receiver on this year’s market, though the Cowboys have been mentioned as being in play to use their franchise tag on the trade pickup. Pierce and Romeo Doubs look like the next-best options, with Giants slot Wan’Dale Robinson also a first-time UFA. The Colts also dealt from their receiver group to acquire Sauce Gardner, sending 2024 second-round pick Adonai Mitchell to the Jets. Josh Downs has one season left on his rookie contract.
Kwity Paye joins Pierce as a free agent-to-be, but despite his first-round pedigree, the five-year defensive end appears a lower priority for the Colts. The 2021 draftee is likely to head elsewhere on the market, Chappell adds, noting the Colts should also be considered likely to lose Samson Ebukam and Tyquan Lewis in free agency.
Indianapolis picked up Paye’s fifth-year option, and he joined Jaelan Phillips and Odafe Oweh as 2021 EDGE draftees to play out option years. Both Phillips and Oweh were traded, while Paye finished his rookie contract with the team that drafted him. Though both traded pass rushers proved valuable for their new teams, Paye did not impress in his contract year.
Paye played all 17 Colts games this season but finished with just four sacks and nine QB hits. That came after he combined for 16.5 sacks from 2023-24. Paye’s showings in 2023 and ’24 still stand to help him, though he did not boost his market in a contract year.
Ballard has traditionally been stingy when it comes to acquiring outside talent, but he did make good on a pledge to deviate this past year. The Colts gave big-ticket deals to Camryn Bynum and Charvarius Ward. New owner Carlie Irsay-Gordon expressed interest in Ballard leaning in this direction moving forward, ESPN.com’s Stephen Holder notes.
The Colts are projected to sit in the middle of the pack in cap space, being slated to hold just more than $33MM. A chunk of whatever space Indy ends up with will need to go to Jones, which will limit funds available for Pierce and any outside options. A Pierce franchise tag may cost more than $28MM, per OverTheCap; that will likely not be a path the Colts turn to. With Jones and Pierce deemed priorities, it will be interesting to see if Ballard acts on Irsay-Gordon’s wishes to see more activity with regards to outside talent being added.
WR Alec Pierce Open To New Colts Deal
Alec Pierce looms as one of the top free agent options at the receiver position this spring. Remaining with the Colts appears to still be on the table, although an exploration of the market also seems to be approaching.
“I’ve got great relationships here with this organization and the people in this building, this city,” Pierce said on Monday (via Nathan Brown of the Indy Star). “They’ve done so much for me so far, and I definitely would love to continue to be part of this organization, and we’ll see where things go.
“But I don’t know. I don’t know how this will all work out… I think I’ve got to see it all laid out in front of me. There’s so many different variables that go into that decision. I think it’s really hard to say what the priorities are, because you’re looking at 50 different variables at each place.”
While playing out his rookie contract, Pierce has emerged as one of the league’s premier deep threats. In each of the past two seasons, the former second-rounder has topped the NFL in yards per reception average. Pierce enjoyed a career year in 2025, setting a new personal best in catches (47) and yards (1,003).
Even after quarterback Daniel Jones suffered his Achilles tear, Pierce managed to have strong games at times down the stretch (including a two-touchdown performance yesterday). The Cincinnati product could be highly sought after during his first trip to free agency, especially if George Pickens winds up receiving the franchise tag from the Cowboys to prevent a departure. Whether it comes from the Colts or a new team, a major raise is forthcoming in Pierce’s case.
With Indianapolis having elected to retain head coach Shane Steichen and general manager Chris Ballard, attention will turn to the matter of re-signing Jones. The 2024 free agent signing enjoyed a stellar campaign prior to being injured, and he wants to stay in place. Keeping Jones in the fold will require more than the $14MM he signed for last spring, although the injury could complicate his value.
Pierce, 25, said continuing to play with Jones represents an attractive selling point in the case of re-signing with the Colts. Based on his comments, however, it would come as little surprise if he were to at least test the waters in March.
Colts’ Alec Pierce In Line For Strong Market
Entering the 2025 season, Alec Pierce appeared to be in line for a departure once his rookie contract expired. A new Colts deal is now something to watch for, though.
Indianapolis’ 9-2 start to the season has included a stronger-than-expected showing on offense. Pierce has played a major role in that regard, with the vertical threat showcasing a more varied receiver skillset along the way. As a pending free agent, his play down the stretch will be worth watching closely.
The Colts included Adonai Mitchell in the Sauce Gardner trade. As a result, retaining Pierce for 2026 and beyond would now be more feasible. The 25-year-old is currently on track to be one of the most in-demand wideouts on the open market given his performances to date this season. No thought is currently being given – at least publicly – to Pierce’s financial situation, however.
“All that’s on my mind is winning games, winning the division, get in the playoffs, make it to the Super Bowl,” the former second-rounder said when asked about a potential extension (via Joel A. Erickson of the Indy Star).
As Erickson notes, the Colts have a history of working out big-money deals during a season. He writes it is therefore “not out of the question” a new Pierce accord could be agreed to before the end of the campaign. Doing so would prevent the Cincinnati product from testing free agency during his first opportunity to do so.
Erickson echoes a previous report that $20MM per year could represent the floor for a Pierce extension. The team’s skill-position group is led by fellow receiver Michael Pittman Jr., whose 2024 extension averages $23.33MM annually. Tight end Tyler Warren has impressed during his rookie season, but no long-term deal in his case will be possible until after the 2027 campaign. Running back Jonathan Taylor is under contract for next year, although without any of his base salary guaranteed he could be on the list of targets for an extension in the near future.
Of course, Indianapolis’ financial planning will revolve in large part on quarterback Daniel Jones. A major raise is in store in that case, and the Colts are expected to make a long-term commitment. Regardless of what happens on that front, Pierce – who is once again leading the league in yards per catch (20.9) – remains on track for a lucrative second contract. It will be interesting to see if team and player pursue an agreement soon or elect to wait until the spring.
Colts More Open To Re-Signing Alec Pierce
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.
WR Alec Pierce Does Not Anticipate Colts Extension
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.
WR Alec Pierce, Colts Haven’t Discussed Extension
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.”