Pierce’s value to the Colts has always been somewhat nuanced. He isn’t a volume receiver, nor has he been asked to be one. Instead, Pierce carved out a role as a vertical threat and perimeter presence, stretching defenses and creating space underneath for others.

His speed, size, and willingness to block made him a functional piece in multiple offensive looks, even when his box-score numbers failed to jump off the page some years. Pierce and the Colts waited until after the 2025 season to begin contract negotiations, a move that will earn Pierce some more millions.

Alec Pierce’s Potential Contract

After a 132-yard performance in Week 18, Pierce reached the 1,000-yard milestone for the first time in his career. By the end of the season, Pierce reached 1,003 receiving yards, 47 receptions, and six touchdowns.

Pierce became the first receiver to record under 50 receptions and still pass 1,000 yards since DeSean Jackson did it with the Philadelphia Eagles in 2010. Pierce also became the first player in 35 years to lead the league in yards per reception in back-to-back seasons.

Unfortunately for general manager Chris Ballard, those types of numbers will likely result in a massive payday. The Colts’ highest-paid receiver right now is Michael Pittman Jr., who is entering the final year of a three-year, $70 million extension he agreed to in 2024.

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If the Colts cut or trade Pittman, they’ll eat only $5 million in dead cap. The rest of the money saved, nearly $20 million, could be funneled into a new deal for Pierce.

The question becomes: how much do the Colts value Pierce? He’s improved every year, and he certainly showed a strong connection with Daniel Jones. As an outsider, you’d have to imagine that Chris Ballard’s case to keep his job was “I brought those two together, and it worked”.

The standard contract for a top receiver is about $28-30 million a year. Pierce’s numbers are comparable to players like Tee Higgins, who is earning just over $28 million with the Cincinnati Bengals.

Ballard loves to pay the guys he drafts, and considering he gave Pittman a fairly lucrative contract, you’d have to imagine he has one lined up for Pierce.

Will the Colts Face Competition?

Yes. The Colts will have to fend off offers from receiver-needy teams, and Pierce may decide to jump ship. With that in mind, Ballard made it clear that it’s a priority to re-sign Pierce.

“I’ve always believed in Alec Pierce,” Ballard said. “… I think he’s been a good player every year. The quarterback situation, I think it’s kind of hindered him at times. But you look the last two years, I mean, with Anthony (Richardson Sr.), I thought him and Anthony had a good connection on the deep ball. I thought he really – I thought Reggie did a tremendous job helping him expand his game to all three levels. But no, Alec’s a priority.”

Some of the Colts’ biggest competition could come from within the division. The Tennessee Titans desperately need some receiver help, and a vertical threat like Pierce could be a great fit for Cam Ward.

Outside of the division but still in the conference, the Buffalo Bills could be due to pay a receiver. Josh Allen would love Pierce’s playstyle, and the two sides could work on a lucrative contract that sees Pierce out of Indy after four years.

If the Colts can sign Pierce to a deal worth $20 million a year, that would be a massive win. Sometimes, though, free agency can be extremely tricky, and one team may go all-in.