Colts Bring Back WR Alec Pierce on Huge Four-Year Deal

The receiver was expected to land elsewhere in free agency, but he will remain in Indianapolis.

The Colts brought back receiver Alec Pierce on a four-year deal. | Christine Tannous-USA TODAY Network via Imagn Images

Alec Pierce is remaining in Indianapolis despite speculation that he would land elsewhere in free agency. The wide receiver agreed to a four-year, $116 million deal with the Colts on Monday, Pat McAfee shared on his show. Sports Illustrated’s Albert Breet confirmed the news and deal.

Pierce was projected to earn “at least” $27 million per season, and now he hit the $29 million annual mark. Here’s how that amount ranks compared to other receivers claimed in free agency. According to Over the Cap, this annual salary puts Pierce ninth in the league across wide receivers right now (Ja’Marr Chase is the highest-paid receiver with a $40.25 million annual income).

MORE FROM SI: NFL Free Agency Live Updates

BREAKING NEWS: ALEC PIERCE IS STAYING WITH THE INDIANAPOLIS COLTS..

"It's a four-year, $116M deal" ~ @AdamSchefter #PMSLive pic.twitter.com/XIr4kFXMXr

— Pat McAfee (@PatMcAfeeShow) March 9, 2026

The Colts’ social team posted a hype video to announce the news of Pierce staying in Indy.

AP IS STAYING. pic.twitter.com/gSNWQuRW7l

— Indianapolis Colts (@Colts) March 9, 2026

This is exciting news for Indianapolis in general as Pierce was highly expected leave in free agency. He had intentions of evaluating his options, and a few teams popped up as possible destinations for the 25-year-old (including the Titans and Bills). Here’s what Pierce told Kay Adams last week about free agency and the possibility of staying in Indy:

“I love Indy. I’ve loved playing there. Great organization, great people in the city. Just a ton of support,” Pierce said. “I know we haven’t been as good as we could be—and I know we can be—but at this point, I’ve kind of earned the right to explore free agency. See what’s out there, and make a decision that’s best for my career and my family.”

Now the Colts will wait to decide about quarterback Daniel Jones, who they placed a transition tag on before free agency began. Jones can still negotiate with other teams during free agency despite the Colts putting the prorated deal on him. The two sides are also trying to work out a long-term deal to keep Danny Dimes in Indy.

How Pierce has fared with the Colts so far

Pierce will head into his fifth season in Indianapolis and he’s coming off his best season to date in 2025. The receiver recorded 1,003 yards last season, the first time he’s hit over 1,000 yards. It’s clear he worked well with Jones, who was in his first season with the Colts. It’s worth noting that Pierce has played with a different starting quarterback in all four years he’s been in Indianapolis.

Over the course of his four seasons so far, Pierce has caught 157 passes for 2,934 yards and 17 touchdowns.

---