Colts GM shares massive franchise tag updates on Daniel Jones, Alec Pierce

Indianapolis Colts quarterback Daniel Jones and wide receiver Alec Pierce remain on track to become unrestricted free agents when the new league year opens on March 11. Thus, the Colts may have to retain the rights to one of those players via the franchise tag before the March 3 deadline for teams to utilize that asset. 

While speaking with reporters at the NFL Scouting Combine on Tuesday, Colts general manager Chris Ballard indicated the club may not have to tag either Jones or Pierce.

Colts have had "positive" talks with Daniel Jones, Alec Pierce

"I’ve had great discussions with both of them," Ballard said about Jones and Pierce, per Joel A. Erickson of the Indianapolis Star. "We’ll continue to work this week and see if we can get something done. It’s been very positive. When both sides are driven to get it done, it usually works out in the right way."

A report suggested that Ballard would be able to retain Jones "without tagging him" after the 28-year-old suffered a season-ending torn Achilles tendon on Dec. 7, 2025. On Wednesday morning, Seth Walder of ESPN hinted that he's been led to believe "the Colts want to bring Jones back but would likely prefer to sign him to a multiyear deal considering he is unlikely to play until late 2026 at the earliest." 

It's too early to say when Jones will be cleared for football activities. 

Are Colts willing to use franchise tag on Daniel Jones, Alec Pierce?

According to ESPN's John Keim, the franchise tag will cost over $47.3M for a quarterback and over $28.8M for a receiver. Thus, it's understandable that Ballard isn't eager to use the tag if doing so can be avoided. 

"It's not what we want to do," Ballard said about tagging either Jones or Pierce. "It's a tool we have."

The Colts have made it known throughout the winter that they're high on Jones after he went 8-2 as Indianapolis' starter before he suffered a fibula injury in Week 12 of this past season. Meanwhile, Pierce led the 2025 Colts with 1,003 receiving yards that he recorded on 47 catches. Over 15 games, he tallied six receiving touchdowns. 

"It'll be huge for us, we get those two guys back," Colts head coach Shane Steichen added about Jones and Pierce. "Alec had a hell of a year, and Daniel Jones was playing winning football for us until his injury happened. To get that continuity back, with especially those two guys, for offense would be beneficial and huge for us."