Alec Pierce Contract Terms
Wide receiver Alec Pierce is returning to the Indianapolis Colts with a four-year, $116 million deal, sources told ESPN.
Fantasy Football Impact for Alec Pierce with the Indianapolis Colts
Pierce's return was uncertain after the Colts used the transition tag on quarterback Daniel Jones, allowing Pierce to become a free agent.
However, a deal averaging $29 million per season ensured Pierce's return.
Pierce had his best season as a pro in 2025, surpassing 1,000 receiving yards for the first time and leading the NFL in yards per catch for the second straight year. He finished with 1,003 receiving yards on 47 catches for a 21.3-yard per-reception average.
He has led the Colts in receiving yards each of the past two seasons. And he's done it without enjoying a large percentage of the team's passing targets. In fact, he hasn't ranked higher than third in team target share in either season, underscoring his efficiency.
Adding to that, Pierce is one of only three receivers -- A.J. Brown in 2019 (84 targets, 1,051 yards) and Mike Williams in 2019 (90 targets, 1,001 yards) -- to see 90 targets or fewer and still eclipse the all-important 1,000-yard mark since 2000.
We can expect that target share to grow after the Colts traded wide receiver Michael Pittman Jr to Pittsburgh moments after we learned of Pierce's signing.
Already one of the best deep-ball threats in the game, Pierce further solidified himself in that regard last season; 36.2 percent of his receptions were for 20 yards or longer. He also had a career-low one dropped pass.
Now he heads into the 2026 season as the undisputed lead receiver in this offense.
While much will depend on Jones' recovery from last year's season-ending Achilles injury, Pierce told the Indianapolis Star last week that he has forged a notably tight bond with Jones in the 10 months or so they've been teammates.
As for his ability to handle a lead role?
Footballguy and Rookie Scouting Portfolio author Matt Waldman had Pierce as his WR7 in the 2022 NFL Draft, and he offers an interesting comparison.
"I felt Pierce could develop into a player closer in style to Justin Jefferson than many might have thought," Waldman said. "Because both players are skilled vertical weapons due to their hands, speed, timing, and toughness at the catch point, who can also deliver on timing routes."
Now, Pierce will get ample opportunity to prove that out. With his new role established -- and solidified by Pittman's departure, expect Pierce to deliver high-end WR2 totals with WR1 upside week to week.
