One of the top wide receivers on the free agent market, Indianapolis Colts standout Alec Pierce finds himself in a complicated situation. And if he hits free agency, he could be a game-changer. A deal to stay in Indianapolis “feels possible,” but there’s a catch, according to ESPN Colts reporter Stephen Holder.
“Update on Colts free agency: There’s been some positive movement in the past 24 hours. Talks (with) Alec Pierce continue, and a deal today feels possible,” Holder wrote. “But long way to go. This will likely go down to the franchise tag deadline today at 4 ET. Daniel Jones’ situation also fluid.”
Pierce is a four-year veteran who has led the NFL in yards per reception for each of the last two seasons. He hit the 22.3 mark in 2023 in an 824-yard season. Last year, he averaged 21.34 with 1,003 yards.
What will it cost the Colts to keep WR Alec Pierce?
The market value for Pierce is a four-year deal worth $20.2 million per season, according to Sportac. A franchise tag would be very costly for the Colts, according to ESPN.
“A franchise tag for Pierce would come in around $27 million,” Jeremy Fowler wrote.
Colts quarterback Daniel Jones enters the picture in this situation as well.
“If the Colts can't get a deal done with Jones by Tuesday's tag deadline, it sounds like they'll put the transition tag on him,” Dan Graziano wrote. “That means Pierce could hit free agency, and another team could sign Jones to an offer sheet. (And the Colts wouldn't get draft pick compensation if he were to sign elsewhere).
“I think the Colts push to get a long-term deal done with Jones to avoid those possibilities, but as of (Feb. 28), it doesn't sound close.”
Other NFL teams are hoping the Colts can’t lock up Pierce. Included in that mix is likely the Commanders, who would be a great fit for the young standout.
However, Fowler said the Colts have made their intentions regarding Pierce clear.
“The team has made it clear to Pierce that he will be a Colt, either through a tag or a long-term deal, before the new league year,” Fowler wrote. “The Colts have work to do to make that happen, but that is the plan.”
