According to PFF, Indianapolis Colts wideout Alec Pierce is listed among their ‘fifteen underrated 2026 NFL free agents that are set to cash in’ following a so far breakout 2025 campaign for the 4th-year wideout, who’s clearly standing out squarely in a contract year:
The Colts’ offense has taken the league by storm this season. While there are a myriad of factors why, Pierce’s play is certainly a large one.
Among receivers with 55 or more targets, Pierce ranks 13th in PFF receiving grade (80.3), 13th in yards per route run (2.15) and 20th in passer rating when targeted (105.1). Likewise, Pierce’s 90.7 receiving grade on contested targets is 14th among wideouts with 60 or more such tries since 2023.
Still only 25 and adding nuances to his game with better releases and route running, Pierce could command upward of $22 million per year on the open market as a team’s WR1.
Originally a 2022 2nd round pick of the Colts, the 25-year-old Pierce has blossomed from a dangerous vertical option situationally to arguably the best deep threat in all of football. Pierce has 33 receptions for 689 total receiving yards and 3 touchdown receptions during 10 games (9 starts) in 2025. His 20.9 yards per reception average leads the entire league among qualifying wideouts. His 689 receiving yards currently lead the Colts this year.
Entering this season, there was some thought that Pierce could become expendable either through a trade or by departing in next year’s free agency—should talented 2nd-year wideout AD Mitchell break out. It wasn’t that Pierce wasn’t effective in his situational role, but that he may have been considered more of a luxury on the roster with more critical players to lock up long-term salary cap wise.
However, Mitchell has since been traded to the New York Jets in the Sauce Gardner deal, while it’s been Pierce who’s broken out in Indy. He’s gone from arguably a complementary receiving piece offensively for Indy, to a critical weapon with his elite ability downfield and exceptional perimeter run blocking—and constant hustle, which I’m sure the Colts coaching staff has to love.
Specifically, Pierce’s ability to separate vertically downfield, high point the football, and make leaping/athletic highly contested catches at the expense of opposing defensive backs is an elite NFL skill-set, bar none.
While he was once considered a one-trick pony, ‘going deep,’ he’s also shown a more well-rounded receiving route tree in recent weeks this season. He’s a young wideout, who’s best football appears well ahead of him, and it’s the Colts, the only NFL team he’s ever known, who should be looking to capitalize here and retain him for the foreseeable future. The longer they wait, Pierce’s free agency price tag appears to only be going up in figures.
For what it’s worth, Spotrac currently projects Pierce to earn a 4-year, $62.9 million ($15.7 AAV) contract in free agency, but the Colts could be looking to lock up a long-term contract extension much sooner.
It could take some financial reshuffling too among the Colts’ existing higher paid players, as starting quarterback Daniel Jones is also set to become a 2026 free agent, if Indianapolis cannot also come to a long-term contract extension with their rejuvenated QB1 in Indy beforehand.
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