Alec Pierce staying with Colts, agrees to historic four-year contract extension

Despite entering free agency, Alec Pierce is staying in Indianapolis after he and the Colts agreed on a four-year deal, as confirmed by CBS Sports NFL insider Jonathan Jones. The deal, which is reportedly for $116 million over four years, also includes $60 million fully guaranteed. It makes Pierce the highest-paid free agent receiver in NFL history. 

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Pierce is now just one of eight receivers in the NFL who has a contract that totals the value of over $115 million. His average annual salary ties him with the Commanders' Terry McLaurin for the ninth-most in the NFL. 

Still just 25 years old, Pierce enters his fifth season in Indianapolis. One of the league's premier big-play threats, Pierce led the NFL with a 22.3 yards-per-reception average in 2024. In 2025, Pierce again led the NFL in average yards-per-catch (he averaged 21.3 yards-per-catch) and also eclipsed 1,000 receiving yards for the first time in his career. 

While it was a gamble, the Colts' decision to allow Pierce to test the open market ultimately paid off. Along with keeping Pierce, it allowed the Colts to place the transition tag on quarterback Daniel Jones. Jones helped lead the Colts to an 8-2 start last year before an injury prematurely ended his season. The Colts lost their final seven games to finish the 2025 season with an 8-9 record. 

Shortly after agreeing to terms on his new deal, Pierce said that "opportunities started flooding in" shortly after the Colts decided not to tag him. In the end, though, Pierce is staying in Indianapolis after the Colts made him an offer he couldn't refuse. 

"I knew where my heart was," Pierce said on "The Pat McAfee Show." "I knew I love the city of Indianapolis. Just seeing where we were at last year, early in the year, we were rolling. I truly believed we were the No. 1 team in the NFL. Obviously, didn't finish out the season like we should of, but I think we can get back to where we were. I believe in Daniel, I know they're gonna get his deal done and lock him down. I think we can be special." 

Alec Pierce

IND • WR • #14

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Shortly after acquiring Pierce, the Colts traded fellow wideout Michael Pittman to the Pittsburgh Steelers, who have been in market for a receiver ever since they traded George Pickens to the Cowboys last offseason. That leaves tight end Tyler Warren and Josh Downs as the Colts' second- and third-most prolific returning receivers from the 2025 season. 

The Colts also still have Jonathan Taylor, a former league rushing champion who was garnering early MVP consideration amid the Colts' fast start. While he wasn't as successful down the stretch, Taylor was still named to this third Pro Bowl after leading the NFL with 18 touchdown runs and amassing 1,963 total yards. 

Highest-paid WRs in average annual value