Colts Applauded for Pierce Contract, Criticized for Massive Jones Deal

Are the Indianapolis Colts "running it back" in 2026? Not exactly, but the team did hand out substantial extensions to two of its biggest contributors from last season.

Quarterback Daniel Jones and receiver Alec Pierce are locked in for the long haul, but some aren't too high on the extensive commitment by Indianapolis.

Pro Football Focus has provided its favorite and least favorite free-agency moves for all 32 teams, and the Colts' two largest decisions earned each of the respective titles.

Pierce and the Colts agreed to a four-year deal worth up to $114 million on March 9th. $84 million of that money is fully guaranteed, and PFF noted the move as their favorite by Indianapolis this offseason.

The 25-year-old receiver cracked 1,000 receiving yards for the first time in his career this past season on just 47 receptions, the fewest for a receiver who reached the four-digit mark in over a decade.

Alec Pierce on his way to the BANK 🏦 @Colts pic.twitter.com/tWZwIUQuXg
— NFL (@NFL) March 9, 2026

His value to the team was hard to ignore, as PFF Wins Above Replacement ranked Pierce as the 13th-most-valuable receiver in the league last season, nearly perfectly aligning with where he now ranks in salary at the receiver position (12th).

PFF Senior Analyst Zoltán Buday gets it right in his assessment of the signing. While Pierce hasn't played as a No. 1 option yet in his career, his value to the team's offense down the field is irreplaceable.

Alec Pierce pic.twitter.com/2E1ewKYu9Y
— Ian Hartitz (@Ihartitz) January 29, 2025

The combination of success that head coach Shane Steichen has achieved with running back Jonathan Taylor on the ground along with Pierce through the air isn't something one can afford to forgo in order to save a few dollars.

The team will do just about anything to emulate the success it found in the first ten weeks of the 2025 season.

Unfortunately, that desire to imitate the team's short-lived success from last season has come at the cost of another hefty extension.

The Colts and Daniel Jones agreed to a two-year, $88 million extension, which could reach up to $100 million with incentives, a move that PFF assessed as their least favorite by the team this offseason.

Indianapolis originally transition tagged Jones before agreeing to a deal on the first day of free agency. The 28-year-old quarterback was en route to a career-best season before multiple injuries aided in derailing the Colts' season.

"He's out there battling with the team." 🔥

Josh has nothing but praise for his QB1 as Daniel Jones played through a broken leg. 💯 pic.twitter.com/jl40QT4WQu
— Downs 2 Business (@downs2business) December 7, 2025

In Buday's assessment, he emphasizes the Colts aren't very much to blame for the decision, given their lack of leverage.

Jones coming back was an inevitability given the lack of alternative options on the market, coupled with the fact that the Colts brought back both their general manager and head coach, a pair who found the most success of their tenures under Jones.

The $44 million a year price tag makes Jones the 13th-highest-paid quarterback in the league, overpay given his finish as PFF's 21st-highest-graded quarterback with a grade of 71.7.

He struggled on the road against both the Los Angeles Rams and the Pittsburgh Steelers, both games before sustaining a fractured fibula.

The team's decision to invest in a league-best deep threat doesn't cause much pause, and while the numbers may seem hefty, the value for Pierce's talent doesn't cause much room for displeasure.

It is the price tag for the quarterback that gives pause, especially when that passer is coming off a torn Achilles in the same leg he tore his ACL in two years prior.

Daniel Jones is getting PAID 💰

(Graphic: DraftKings) pic.twitter.com/xvqNvOoGVb
— Football’s Greatest Moments (@FBGreatMoments) March 17, 2026

Whether the two investments work out remains to be seen. Sure, there is every reason to believe Jones is the engine that powers the Colts offense, and the team only lost its last seven games because of the injuries he was dealing with.

But it doesn't take a genius to retain doubt that success will reappear by the upcoming fall.

The Colts enter the 2026 season with the fourth-easiest strength of schedule in the league, as the team's opponents had an average win percentage of 0.465 in 2025.

Indianapolis' hot start last season was largely due to a lack of tough competition early on.

If Steichen and company can dominate opponents in the fashion they were in the first half of last season, you can bet there won't be anyone questioning the financials behind the team's success.

Winning cures everything, and would especially inspire confidence in a fan base that hasn't seen double-digit wins in five seasons.

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