The Indianapolis Colts have made a significant move by re-signing wide receiver Alec Pierce to a four-year contract worth up to $116 million. This deal was struck just as the NFL's negotiating window opened, highlighting the team's commitment to Pierce. But how does this move stack up in terms of value and strategy?
According to ESPN's Seth Walder, the deal earns a B- grade. While the headline number might seem hefty, a deeper dive reveals that Pierce's $29 million per year aligns closely with other notable receiver contracts, such as DJ Moore's 2022 deal with the Panthers, Chris Godwin Jr.'s extension with the Buccaneers, and DeVonta Smith's with the Eagles.
These comparisons take into account cap inflation, showing that Pierce's deal is competitive but not at the top of the market, which exceeds $40 million annually. It's slightly higher than some expected, but not excessively so.
Pierce's ability to make big plays is a major draw. Leading the NFL in yards per catch over the past two seasons, he demonstrated a more comprehensive skill set in 2025. Surpassing 1,000 receiving yards for the first time, Pierce showed versatility by impacting all levels of the field.
Walder notes that Pierce "turned into a legitimately good player last season," with impressive stats like 2.2 yards per route run and a completed air yards per route of 1.8, placing him in the 97th percentile among wide receivers. His knack for securing difficult catches sets him apart.
However, there are risks. Contested catch ability can vary from year to year, and Pierce scored 32 in the openness category, indicating room for improvement.
The Colts' decision came into sharper focus when they couldn't finalize a deal with Daniel Jones, resorting to a transition tag. This situation gave Pierce leverage, allowing him to explore free agency without restrictions. If the Colts had opted for the franchise tag on Pierce, they might have saved some money, a factor in Walder's grading.
Overall, the Colts are betting on Pierce's potential and past performance, aiming to solidify their offensive weaponry for the coming seasons.