According to PFF, Indianapolis Colts pending 2026 free agent Alec Pierce is the player that the Horseshoe can’t afford to lose—which isn’t all that surprising to be fair:
The Colts’ 2025 campaign was truly a tale of two halves. The team went from possible Super Bowl contenders to finishing third in the AFC South. Compounding the situation is that Indianapolis doesn’t have its first-round pick, plus has several contributors on expiring contracts. The most valuable of those names is certainly Pierce.
Pierce found his groove this past year, blossoming into one of the better receivers in football. Among receivers with 75 or more targets, he placed 14th in PFF receiving grade (81.0), 14th in yards per route run (2.10) and eighth in passer rating when targeted (113.7). Additionally, his 96.3 deep PFF receiving grade since 2024 ranked second, behind only Jaxon Smith-Njigba.
The Colts have decisions to make on Daniel Jones, Braden Smith, Nick Cross and others, but Pierce was an engine for their improved passing attack. No matter who Indianapolis’ man under center is in 2026, having Pierce back in the fold would be enormous.
Specifically, the only other realistic choice was starting quarterback Daniel Jones, who’s also set to become a free agent this offseason, and is currently rehabbing from a season-ending torn Achilles suffered late during Week 14. The other Colts’ key free agents include safety Nick Cross, offensive tackle Braden Smith, defensive end Kwity Paye, and linebacker Germaine Pratt.
Originally a 2022 2nd round pick of the Colts, the 25-year-old Pierce has emerged as arguably the league’s top deep threat, averaging an NFL leading 21.3 yards per reception average this past season—which he’s led the league two years in a row. Not only that, but Pierce eclipsed 1,000 receiving yards for the first time in his career to go along with his 47 receptions and 6 touchdown receptions this past season as the Colts’ clear new WR1.
Pierce has continued to develop as a more well-rounded route runner collectively, but his ability to separate vertically, high-point the football, and make highly contested, acrobatic catches is an elite NFL receiving skill.
Regardless of who was starting for the Colts at quarterback, Pierce consistently shined as their most explosive receiver—particularly down the field, whether it was Jones, veteran Philip Rivers, or even rookie Riley Leonard.
Armed with a projected $41.7M of available team cap space this early offseason, Pierce should be a top priority re-signing for the Colts—even if it comes at the expense of his Indy teammates, including fellow starting wideout Michael Pittman Jr., who’s due a whopping $29 million cap hit next season.
Simply put, Pierce needs to be back for Indy, no matter the price tag.
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