Alec Pierce turned down more money to stay in Indianapolis, and the Colts still had to make him one of the 10 highest-paid wide receivers in the NFL. The four-year, $116 million deal that Pierce and the Colts agreed to on the first day of legal tampering, per ESPN’s Adam Schefter, represents a $29 million annual average, tying Terry McLaurin’s contract with Washington. It also exceeds initial projections by at least $2 million per year.
The Patriots, Raiders, Chargers, and 49ers all showed interest, according to The Athletic’s Dianna Russini, who reported that Pierce “turned down more money elsewhere to stay in Indy.” That loyalty matters in a market where a 25-year-old deep threat entering his prime could have extracted every dollar from a desperate team.
Alec Pierce’s Efficiency Numbers Justify the Premium
Pierce’s contract sits just behind Amon-Ra St. Brown and Brandon Aiyuk ($30 million), and well above Tee Higgins ($28.75 million). Critics will point to his modest volume: 47 catches on 84 targets. But the efficiency metrics tell a different story.
Pierce led the NFL in yards per catch in both 2024 (22.3) and 2025 (21.3). His 11.9 yards per target in 2025 ranked second among all qualified receivers. Per NFL Next Gen Stats, he tied for fifth in deep receptions (9) and finished second in deep receiving touchdowns (4). He produced 1,003 receiving yards on fewer than 100 targets, something only a handful of receivers accomplish in any given season.
Wide receivers Alec Pierce will make more money than in 2026 👀
Be the GM for your favorite team: https://t.co/r7cv5QlDii pic.twitter.com/IjTnJZ4Qge
— PFSN (@PFSN365) March 9, 2026
PFSN’s WR Impact Score data reveals an even more compelling trajectory. Pierce graded as a D+ in both 2022 (67.2) and 2023 (67.4), ranking 85th and 76th among receivers those seasons. His 2024 grade jumped to 81.4 (B-minus, 21st overall), and he finished 2025 at 84.6 (B, ninth overall). That’s not a fluke season. That’s a player who weaponized his skill set within an offense that asked him to win on low-percentage deep balls.
“I’ve kind of earned the right to explore free agency, see what’s out there and make a decision that’s best for my career and my family,” Pierce told Kay Adams on Up & Adams earlier this week. He wasn’t wrong. What he chose to do with that leverage, though, says something about his priorities.
Why Pierce’s Decision Changes the Colts’ Ceiling
Pierce staying in Indianapolis preserves the chemistry he built with Daniel Jones during the Colts’ hot start to 2025. The offense ranked among the league’s most explosive units before injuries derailed the season. Jones, now on the transition tag at $37.83 million, remains under contract, and Pierce made clear that quarterback stability factored heavily into his decision.
“Quarterback play and stability in a franchise, winning culture. Things like that, I’d say, are the most important,” Pierce said. “I’ve understood the battles that come with not having that stability. So I think as a free agent, that would be something I would look into a lot.”
The Colts now have Pierce and Michael Pittman Jr. ($23.33 million AAV) locked in as their top two receivers, giving Jones an established target when he returns from his Achilles injury. That continuity has tangible value that doesn’t show up on the cap sheet.
Pierce’s deal also resets expectations for what he’ll become.
During his Up & Adams interview, he made a revealing observation: “There’s not many receivers who have gotten 1,000 yards on under 100 targets and I had 84. I think you take those numbers, what’s a No. 1 receiver get targets-wise? You basically double my targets.”
At $29 million per year, the Colts are paying for the player Pierce projects to be, not just the one he’s been. If his efficiency holds as his role expands, the contract looks prescient. If he can’t translate deep-ball dominance into a more varied route tree, Indianapolis overpaid for a specialist.
The market valued Pierce at more than $29 million. He chose to bet on himself, on Jones, and on an organization that hadn’t always earned that faith. Now the Colts have to prove he made the right call.
