The top wide receiver that was potentially available in the 2026 NFL free agent class won't make it to the class, after all, as the Indianapolis Colts have agreed to a last-minute contract extension with wide receiver Alec Pierce.
Pierce will stay in Indianapolis on a four-year, $116 million deal per Pat McAfee of ESPN. That contract has $84 million in guaranteed money, per Josina Anderson.
In terms of total average annual value, Pierce's deal will tie him with Terry McLaurin as the ninth-highest paid wide receiver in the NFL.
Indianapolis Colts wide receiver Alec Pierce in a game against the Pittsburgh Steelers on Dec. 16, 2023 — Ed Thompson / Steelers Now
Pierce, 25, was the Colts' second-round pick in the 2022 NFL Draft out of Cincinnati . He had a breakout season in 2025, with 47 catches for 1,003 yards — the first time in his career he eclipsed 1,000 yards in a season. For the second straight season, he led the NFL in yards per reception at 21.3.
He's done all of that despite a significantly unsettled quarterback situation in Indianapolis, where Daniel Jones was injured last season and 44-year-old Phillip Rivers was forced to come out of retirement.
The Colts chose to use a transition tag on Jones last week, as he and Pierce were both set to hit the free agent market this offseason, setting up a race to get a contract done with Pierce before he hit the open market.
With Pierce now under contract and Jones tagged, Indianapolis could be looking to move on from Michael Pittman Jr. , who is entering the final season of his contract and has an elevated salary cap hit for 2026.
With DK Metcalf one of the eight higher-paid NFL receivers, the Steelers were likely not going to meet the nearly $30-million asking price for Pierce, so him going to the Colts, and potentially opening up the availability of Pittman, could end up being a positive for Pittsburgh.
This article originally appeared on Steelers Now : Steelers Miss Out as Top Wide Receiver Avoids Free Agency
Related Headlines
