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The Indianapolis Colts kept one of their wide receivers in free agency, but also shipped one out.
Alec Pierce, who reportedly had offers elsewhere, is staying with the Colts after agreeing to terms on a four-year, $116 million deal, making him the highest-paid free agent receiver in NFL history, according to multiple reports.
Pierce gets $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/Icon Sportswire)
After the Pierce news hit the free agency stream, the Colts made a trade with the Pittsburgh Steelers, sending veteran receiver Michael Pittman Jr. in exchange for a late-round pick swap that has yet to be announced.
With Pittman’s deal scheduled to be up after this year, the Steelers have reportedly set 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 along with DK Metcalf, who 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, who he spent years with in Green Bay when he starred 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-plus campaign on just 47 catches, showing his ability as a deep-ball threat with Daniel Jones as the team’s new quarterback. Pierce quickly became one of the best deep ball players in the NFL, and the Colts knew that aspect of his game makes their offense a big threat.
They certainly paid him as such to ensure he didn’t pursue other opportunities in the market. Then again, 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 saw where we were last year, early in the year, kind of rolling. I really believe we were the No. 1 team in the NFL and just obviously didn’t finish the season the way 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 shocking return to the gridiron, but the Colts failed to make the playoffs despite starting 8-2.
Jones received the transfer tag from the Colts this offseason, allowing Indianapolis to pursue Pierce heavily, knowing their quarterback would return for the 2026 campaign.
Indianapolis Colts wide receiver Alec Pierce looks on during the game between the Jacksonville Jaguars and the Indianapolis Colts on December 7, 2025 at EverBank Stadium in Jacksonville, Fl. (David Rosenblum/Icon Sportswire)
With Jonathan Taylor leading the way in the Colts’ backfield, Pierce stretches defenses with his threat to go long, with 36.2% of his receptions going 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.
