Colts Trade Michael Pittman, Pay Alec Pierce: Fantasy Football Fallout Explained

The Indianapolis Colts reshaped their offense by trading Michael Pittman Jr. to the Pittsburgh Steelers and signing Alec Pierce to a massive extension—creating major fantasy football ripple effects for 2026.

Indianapolis Colts wide receiver Alec Pierce (14) leaves the field after losing a game against the San Francisco 49ers at Lucas Oil Stadium. | Christine Tannous-USA TODAY Network via Imagn Images

The Indianapolis Colts have already been active this offseason, especially when it comes to their wide receivers. They traded wide receiver Michael Pittman Jr to the Pittsburgh Steelers. Pittsburgh received a Pittman and a seventh-round pick, and the Colts received a sixth-round pick in return. 

TRADE: Colts trading WR Michael Pittman Jr. to Steelers. (via @tompelissero) pic.twitter.com/JqiemglhHM

— NFL (@NFL) March 9, 2026

Indianapolis saved $24 million in cap space, and the Steelers signed Pittman to a three-year, $59 million extension. It was a trade that worked out for everyone involved. Pittman finds a new home in Pittsburgh with an extension, and Indy cleared up cap space. 

Indianapolis used that cap space to re-sign Alec Pierce, who was a hot commodity in free agency. Pierce signed a new four-year, $116 million contract. The Colts clearly wanted to lock him up and made bringing him back a priority. Pierce is coming off his first career 1,000-yard season. In 2025, he caught 47 passes for 1,003 yards and six touchdowns.     

Fantasy Football Impact of Alec Pierce Resigning With Colts

ALEC PIERCE GOT PAID‼️💰

He is now the highest paid free agent WR in NFL history 🔥

(via @PatMcAfeeShow) pic.twitter.com/035T8f2dCV

— SportsCenter (@SportsCenter) March 9, 2026

WR Alec Pierce, Indianapolis Colts

With Pittman gone from the Colts, Pierce is expected to step into an expanded role and serve as their WR1. As it stands now, Pierce will be playing alongside Josh Downs and Ashton Dulin in the WR corps, but we expect them to add another option to start on the outside opposite of Pierce with Downs in the slot. If Daniel Jones returns or the Colts find an equivalent option, Pierce should provide WR2 upside in 2026 with a WR3 floor. His new contract suggests he will be heavily utilized and should see a significant boost in fantasy this season and moving forward.

WR Michael Pittman Jr, Pittsburgh Steelers

Pittman goes from one team with uncertainty at quarterback to another. In Pittsburgh, he will be playing opposite DK Metcalf and will likely complement him as the Steelers' primary possession receiver. It shouldn't surprise anyone if Pittman leads the team in targets, especially if Aaron Rodgers returns as their quarterback. We don't expect Pittman to lose any fantasy value, but this does feel like a lateral move.    

TE Tyler Warren, Indianapolis Colts

Indianapolis Colts tight end Tyler Warren (84) pulls in a catch for a first down Sunday, Dec. 28, 2025, during a game against the Jacksonville Jaguars at Lucas Oil Stadium in Indianapolis. | Mykal McEldowney/IndyStar / USA TODAY NETWORK via Imagn Images

With Pittman out in Indy, Warren should see an uptick in targets. While they don't play the same position, they both play similar roles. Moving forward, Warren will be the primary target on short and intermediate routes. With Pierce stretching the field as more of a big-play threat, Warren could lead the team in targets in 2026.