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The Indianapolis Colts kept one of their wide receivers in free agency, but also cut one.
Alec Pierce, who reportedly had offers elsewhere, will stay with the Colts after agreeing to terms on a four-year, $116 million contract, becoming the highest-paid free agent receiver in NFL history, according to multiple reports.
Pierce will receive $84 million in guarantees, including $60 million fully guaranteed at signing.
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Indianapolis Colts wide receiver Michael Pittman Jr. (11) watches during the NFL football game between the Indianapolis Colts and the Pittsburgh Steelers on November 2, 2025 at Acrisure Stadium in Pittsburgh, PA. (Mark Alberti/Sportswire Icon)
After news of Pierce hit free agency, the Colts made a trade with the Pittsburgh Steelers, sending veteran receiver Michael Pittman Jr. in exchange for a trade of late-round picks, which has yet to be announced.
With Pittman’s contract set to expire after this year, the Steelers reportedly signed him to a new three-year, $59 million deal to keep him in place for the foreseeable future.
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The Steelers needed wide receiver help to go with DK Metcalf, whom they traded last season to the Seattle Seahawks. The big question is who will throw passes for them this season, as all eyes are on quarterback Aaron Rodgers and whether a reunion with new head coach Mike McCarthy, with whom he spent years in Green Bay while playing for the Packers, is in the cards.
For the Colts, Pierce is someone who had a breakout season in 2025, seeing his first 1,000+ yard campaign on just 47 receptions, showing off his deep ball threat abilities with Daniel Jones as the team’s new quarterback. Pierce quickly became one of the best depth players in the NFL, and the Colts knew that aspect of his game makes their offense a major threat.
They definitely paid him as such to make sure he didn’t look at other options in the market. On the other hand, he told ESPN’s “The Pat McAfee Show” how much he wanted to stay.
Alec Pierce of the Indianapolis Colts catches a touchdown pass against Derek Stingley Jr. #24 of the Houston Texans during the second quarter of the game at NRG Stadium on January 4, 2026 in Houston, Texas. (Tim Warner/Getty Images)
“I knew where my heart was,” he said on the show. “I loved the city of Indianapolis. I just looked at where we were last year, at the beginning of the year, kind of good. I really think we were the number one team in the NFL and obviously we didn’t finish the season like we should have.”
The Colts saw Jones go down with an Achilles injury, knocking him out for the rest of the year at the worst possible time. Philip Rivers was even called upon to make his impactful return to the field, but the Colts failed to make the playoffs despite starting 8-2.
Jones earned the Colts’ transition tag this offseason, allowing Indianapolis to aggressively pursue Pierce, knowing their quarterback should return for the 2026 campaign.
Indianapolis Colts wide receiver Alec Pierce watches during the game between the Jacksonville Jaguars and the Indianapolis Colts on December 7, 2025 at EverBank Stadium in Jacksonville, Florida. (David Rosenblum/Icon Sportswire)
With Jonathan Taylor setting the tone in the Colts backfield, Pierce stretches the defense with his long threat, with 36.2% of his receptions going for 20 yards or more in 2025.
At the same time, the Steelers and McCarthy know Pittman is a reliable pair of hands, willing to do the dirty work at short and intermediate to move the chains and provide a physical presence no matter the task with his 6-foot-4 frame.
