The Colts and WR Alec Pierce have agreed to a four-year, $114 million deal with $84 million guaranteed, according to multiple reports. NFL Network's Ian Rapoport notes that it's the biggest deal ever given to a free-agent WR. Pierce's $28.5 million average annual salary makes him the league's 11th-highest-paid WR -- just behind Tee Higgins and right in front of Jaylen Waddle.
Pierce was the hottest name in the free-agent WR class and certainly got paid like it.
He's coming off career highs last year with:
Pierce ranked 27th among WRs in PPR points per game; 22nd in half PPR points per game.
The 25-year-old has emerged as one of the best downfield receivers in the NFL, averaging 22.3 and then 21.3 yards per catch the last two seasons. Both marks led all WRs with 50+ targets in those seasons. Pierce also led in average target depth both years (22.8 and 20.0).
The deep ball will continue to be the name of his game. But Pierce has shown growth in other facets. His Pro Football Focus receiving grades on short and intermediate targets have consistently climbed over his four NFL seasons. He hit career highs in both marks last year.
Considering the money the Colts are now paying Pierce, it's safe to assume they want him to play a bigger -- and probably more versatile role -- going forward.
We'll see what the Colts do with WR Michael Pittman, who's been mentioned as a potential trade or cut candidate. He's set to count $29 million against the cap in 2026, the final year of his deal.
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