Colts Free Agency Forecast Hints at Potential Breakup

Following a rollercoaster season, the Indianapolis Colts must focus on reconstructing their roster to push for an AFC South title—something that Indy hasn't won in over a decade.

There were certainly some silver linings from another losing season, such as a historical offensive start and an NFL-best 8-2 record halfway through the year. Player-wise, the Colts may have found their quarterback of the future in Daniel Jones, but rehab from a torn Achilles could complicate contract talks.

Jones and wide receiver Alec Pierce are the Colts' two most notable free agents. Both are projected to have a big payday this offseason, and with just $30 million in cap space, the Colts may need to restructure some past contracts in order to offer both a fair deal.

In a new prediction from CBS Sports writer Zachary Pereles, the Colts manage to bring back only one of Jones and Pierce.

Pereles listed Jones as the third-best free agent in this year's class, and he predicted the Colts would be his landing spot. "The Colts are all the way in on Jones, especially after they traded away two first-round picks for Sauce Gardner at the trade deadline," Pereles wrote. "He's coming off a torn Achilles, but expect Indianapolis to figure something out."

Dec 7, 2025; Jacksonville, Florida, USA; Indianapolis Colts quarterback Daniel Jones (17) rolls out against the Jacksonville Jaguars during the first half at EverBank Stadium. | Matt Pendleton-Imagn Images

Pereles listed the Arizona Cardinals and Minnesota Vikings as two other potential suitors. Jones had a brief stint on the Vikings in 2024 after he was released by the New York Giants, and he was split between Indy and Minnesota in last year's free agency.

Jones has expressed interest in returning to Indianapolis, but it's unclear how much money he's demanding. Some projections have Jones as a player who could reel in $40+ million a year.

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As for Pierce, Pereles predicted that the 25-year-old would land with the Washington Commanders, who just hired David Blough as offensive coordinator a couple of weeks ago.

Alec Pierce catches a touchdown for the Indianapolis Colt — Jan 4, 2026; Houston, Texas, USA; Indianapolis Colts wide receiver Alec Pierce (14) catches a touchdown pass against the Houston Texans during the first half at NRG Stadium. | Thomas Shea-Imagn Images

"Coach Dan Quinn and GM Adam Peters both expressed a desire to get younger and faster this offseason," Pereles wrote. "Pierce is young (25) and fast: He's led the NFL in yards per catch in consecutive seasons, and he became the first player since A.J. Brown in 2019 to go over 1,000 yards on at least 20 yards per catch."

Pereles listed the Colts, Las Vegas Raiders, Pittsburgh Steelers, and Buffalo Bills as other suitors.

Pierce is a true vertical threat with elite hands. Receiver-needy teams will be willing to overpay for a guy like Pierce, which may leave the Colts in the dust. Pierce indicated earlier this month that the Colts' decision on Daniel Jones will impact his own contract situation.

#Colts WR Alec Pierce:

“I got great relationships here with this organization, with the people in this building, the city. They’ve done so much for me so far, so I definitely would love to continue to be a part of this organization, and we’ll see where things go.” pic.twitter.com/Zo3eMJxLtm
— James Boyd (@RomeovilleKid) January 5, 2026

For the Colts to afford both, they'll have to find some money. Michael Pittman Jr.'s contract has been under the scope because if the Colts cut him, they'll get $24 million in cap savings.

Cutting Pittman and keeping Pierce would be a risky move, though. The two have played together for four years now and have complemented each other's play styles throughout. Pittman is loved in the locker room, and he has stepped in as a veteran leader over the past few seasons.

Pierce and Jones have complicated futures, but the simplest move for them both would be staying put in Indianapolis.

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