Colts dealt harsh reality over Alec Pierce contract

The Indianapolis Colts were a big watch as free agency began, with the futures of Daniel Jones and receiver Alec Pierce the headliners.

Jones was kept, and Pierce was also retained, as he signed a huge four-year, $116 million deal.

So two of Indianapolis' top offensive weapons are coming back.

But did the Colts overpay to keep Pierce?

CBS Sports' Carter Bahns thinks so.

"Keeping Alec Pierce in town was a priority," Bahns wrote. "The contract he landed is evidence. His four-year, $116 million deal makes him the highest-paid free agent receiver in NFL history, and his average salary makes him ninth-richest receiver in the league for 2026. The contract also comes with $80 million guarantees, including $60 million upon signing.

"Unless Indianapolis foresees getting Pierce involved in new parts of the field, it paid a premium for someone who is primarily a downfield target and cost itself a No. 1 receiver in the process."

More: Commanders sign two-time Super Bowl champion in free agency

Did Colts overpay for Pierce?

At $29 million APY, it does feel like it, at least right now.

A receiver who in four years, has only surpassed 1,000 yards once, and that was in 2025 (1003), but Pierce's downfield threat is where is true value is.

But if he can develop into an all-round weapon for the Colts and put up, say, 1,400 yards and a handful of touchdowns, then in a year's time, we can look back on this deal and think the Colts didn't overpay.

But at this point in time, yes, they did. But that's the price of doing business as free agency begins.

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