According to PFF’s Bradley Locker, Indianapolis Colts wideout Alec Pierce is their project franchise tag candidate for the Horseshoe among a listing of each of the NFL’s 32 teams :
Indianapolis Colts: WR Alec Pierce
The Colts could ostensibly deploy the franchise tag on either Daniel Jones or Pierce, but the latter feels more likely given his radiating market.
Pierce was one of the better receivers in football last year with an 81.0 PFF receiving grade, 2.10 yards per route run and a 2.1% drop rate. Further, his 97.9 receiving grade slotted
ninth among qualified wideouts.
Considering that Pierce’s next contract should wind up around a $28 million AAV, the franchise tag seems like a reasonable play for the Colts if they’re wholeheartedly committed to retaining the 25-year-old. Meanwhile, in Jones’ case, almost all signs point to a reunion — and potentially an extension before the new league year.
Honestly, it was realistically between Pierce and starting quarterback Daniel Jones among potential options.
While Pierce shouldn’t surpass Jones in average annual value on his next contract, he could attract a wider array of potential suitors—should he actually hit the open free agency market. So far, Pierce has seemingly been connected to almost every NFL team that could be looking for a wide receiver upgrade this early offseason.
Meanwhile, there are only a handful of starting quarterback openings for Jones, and all signs are that he wants to return to Indianapolis and be paired with head coach Shane Steichen again, where he was in the middle of a career year before critical injuries struck down the final stretch—including a season-ending torn Achilles.
Per Spotrac, Pierce is currently projected to earn a 4-year, $81 million deal. However, that number seems a bit low given the rabid fever of NFL free agency these days (just look at former Colts defensive lineman Dayo Odeyingbo last offseason, who signed a 3-year, $48 million deal with the Chicago Bears in free agency).
The 25-year-old Pierce caught 47 receptions for 1,003 total receiving yards (21.3 ypr. avg.) and 6 touchdown receptions during 14 starts in 2025. As arguably the league’s top deep threat, he led the league in average yards per reception for a consecutive season while with the Colts. However, Pierce has become a more well-rounded route runner all together since entering the league as Indianapolis’ 2nd round pick back in 2022. His elite ability to separate vertically, high point the football, leap, and make highly contested, acrobatic catches is special.
