Insider Breaks Down Colts' Potential Plan for Alec Pierce

The Indianapolis Colts must consider all options.

Indianapolis Colts wide receiver Alec Pierce (14) leaves the field Monday, Dec. 22, 2025, after losing a game against the San Francisco 49ers at Lucas Oil Stadium in Indianapolis. | Christine Tannous/IndyStar / USA TODAY NETWORK via Imagn Images

Indianapolis Colts general manager Chris Ballard is known to like his guys. This year, he faces his biggest challenge yet: keeping two of them while working with a limited budget.

Starting quarterback Daniel Jones and wide receiver Alec Pierce are both set to hit the open market this offseason. The Colts have expressed interest in bringing back both, but according to one ESPN insider, their priorities are clear.

"Speaking of the Colts, my sense is their priority will be Daniel Jones, followed by receiver Alec Pierce as a 1B option," ESPN insider Jeremy Fowler wrote. "The Colts should turn up the heat on Jones closer to the combine. Though the franchise and transition tags for wide receivers are steep -- $25 million to $28 million based on projections -- the Colts tagged Michael Pittman Jr. two years ago as a way to facilitate a long-term deal. I'm not taking it totally off the table for Pierce for that reason."

Oct 12, 2025; Indianapolis, Indiana, USA; Indianapolis Colts quarterback Daniel Jones (17) celebrates with wide receiver Alec Pierce (14) after Jones scores a touchdown during a game against the Arizona Cardinals at Lucas Oil Stadium. | Christine Tannous-USA TODAY Network via Imagn Images

Earlier Sunday, NFL Network insider Tom Pelissero revealed that the Colts are planning to start contract negotiations with Jones. The veteran quarterback had historic success at the beginning of the season, but injuries derailed his hot start.

As for Pierce, the franchise tag isn't out of the question. Even though it's not a long-term option, a tag can help the Colts negotiate a deal, as they did with Michael Pittman Jr. in 2024.

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Pierce finished as the Colts' leading receiver in 2025. He intentionally held off contract talks, a decision that will earn him millions this offseason. Pierce led the league in yards per reception for the second consecutive year, showcasing his talents as one of the best in the league.

Pierce will draw interest from receiver-needy teams, especially ones that have money to spend. The Colts could struggle to match those offers, which is exactly why they may use the franchise tag if needed.

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

Regardless of who signs him, Pierce will probably be making at least $20 million a year. If he gets to $25 million annually, he'll be among the top 15 earners at wide receiver.

Even though Pierce was a key component of the passing game, Jones was even more important. The Colts looked like a different team when he was healthy under center, and his elite play in the first half of the season will force Ballard into offering a massive deal.

A torn Achilles is nothing to scoff at, so Jones' recovery will be important to watch. His injuries definitely lowered his value a tad, but I'd expect a deal worth more than $35 million a year.