Colts learn key factor in free agent decisions for Daniel Jones, Alec Pierce

The Indianapolis Colts have Daniel Jones and Alec Pierce heading toward free agency.

There's only one franchise tag, so the Colts have some work to do here.

On Thursday, ESPN's Stephen Holder provided a key update on the process on X:

"One observation from the Combine: The free-agent market for WR Alec Pierce is bigger than that of QB Daniel Jones. Jones will earn more (QB vs WR) but there are more outside teams interested in Pierce. This needs to be a consideration in how they navigate the franchise tag."

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From a practical standpoint, this means the Colts should franchise tag Pierce, if they indeed want to keep him.

The franchise tag prevents any other team from negotiating with Pierce. If they don't tag him, he could get blown away by an offer from elsewhere and leave. With the tag on Pierce, he's more or less stuck.

If they tag Pierce, they can still negotiate a longer-term deal with him, but it protects him from the open market.

If Pierce was leaving, there'd be some case to tagging Jones, just to make it a one-year commitment as he returns from injury and tries to prove last season wasn't a one-hit wonder.

But given Jones' injury, he actually can probably be had for a slightly cheaper, prove-it type of contract. The Colts will have a better idea of his medicals than any other team, too, which can't hurt.

If Indy can bring both Jones and Pierce back, it's a big win. But they'll have to navigate both of these negotiations just right to ensure the best chance of keeping their offense at full strength.

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