INDIANAPOLIS (AP) — Daniel Jones is back with the Indianapolis Colts, and Alec Pierce couldn't be happier.
Two days after the 25-year-old Pierce — Jones' top target — agreed to a four-year contract extension worth $116 million, the Colts brought back their quarterback on a two-year deal worth up to $100 million, a person with knowledge of the deal told The Associated Press on Wednesday. The person requested anonymity because the deal had not been announced.
Later Wednesday, Pierce explained why he never intended to leave the team that drafted him.
“I believe in what we have going on here, I believe in our team, I believe in the players we have in place,” he said. "I think last year in the beginning of the season — just that first half of the season — I think we truly had something special going. And I know we didn’t finish the way we wanted to finish, but I think I’m able to look back to that and look at how we were playing, and know we can be the best team in the NFL.”
Pierce and Jones helped the Colts' offense get off to a hot start, but things went awry when Jones tried to play through a hairline fracture in his left leg before suffering a season-ending torn right Achilles tendon in early December. Indy lost its final seven games to miss the playoffs for a fifth consecutive season.
It's unclear when Jones will be fully recovered from surgery to repair the tendon, though general manager Chris Ballard and coach Shane Steichen continue to express optimism that Jones could be ready to participate in training camp. And even if he's not, it became clear Indy was eager to run it back with Jones, Pierce and running back Jonathan Taylor.
Pierce's contract puts him among the league's 10 highest-paid receivers. Jones' deal includes $88 million in salary, incentives that could push the value to $100 million and guarantees of $50 million.
Getting there required some salary cap maneuvering.
To fit Pierce under the cap, Ballard traded longtime No. 1 receiver Michael Pittman Jr. to the Pittsburgh Steelers for a late-round draft pick. Then the focus turned to Jones, the No. 6 overall draft pick in 2019, who was given the transition tag by Indy last week.
“You said being the number No. 1? That’s something I know I can do, I believe in it,” Pierce said. “The opportunity is now, and it’s there for me to take it. That’s going to be something I knew was going to come with getting this type of contract, and that was probably the biggest thing I was excited about.”
Jones has struggled with injuries, playing six games in 2023 for the New York Giants. He then started 10 games for the Giants in 2024 before he was benched, leading to his release.
But Jones revived his career in Indy.
He completed 68% of his throws last season for 3,101 yards — his highest total since leading the Gants to the playoffs in 2022. He also threw 19 touchdown passes, his highest total since 2019, and had eight interceptions.
Pierce led all qualifying players in yards per reception in 2024 and 2025.
“I knew at the bottom my heart, this is where I wanted to be,” Pierce said. “But they kept telling me, they said, ‘We’re not going to let you get out of Indy. We want you to be a Colt.’ So, I knew they wanted me here and I wanted to be here, so it was an easy decision.”
Ballard also reached a deal with edge rusher Arden Key, traded for defensive tackle Colby Wooden and is likely still in the market for a pass rusher. He could also be seeking a backup quarterback after Anthony Richardson was granted permission to seek a trade.
Richardson, the No. 4 overall draft pick in 2023, lost the starting job to Jones in training camp last season and then suffered an eye injury during a freak pregame accident in October.
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AP Pro Football Writer Rob Maaddi contributed to this report.
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