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Dec 22, 2025; Indianapolis, Indiana, USA; Indianapolis Colts wide receiver Alec Pierce (14) celebrates after scoring a touchdown against the San Francisco 49ers in the second quarter of the game at Lucas Oil Stadium. Mandatory Credit: Trevor Ruszkowski-Imagn Images Trevor Ruszkowski-Imagn Images

Patriots Chances at Colts WR Just Sank

Originally posted on New England Patriots on SI
By Caleb Skinner | Last updated Mar 2, 2026 11:37 AM ET

The New England Patriots are coming off a season that saw them overachieve and reach the Super Bowl. The Pats were unable to compete against the Seattle Seahawks for yet another Lombardi Trophy, and are now evaluating how to improve their roster to continue their momentum.

The NFL Combine is now complete, and New England will turn their attention to free agency and the NFL Draft.

They have made it abundantly clear that they will look to improve their wide receiver room this offseason, but one target seems like a less likely option now after reports from ESPN's Jeremy Fowler and Dan Graziano believe that the Indianapolis Colts will do everything they can to retain Alec Pierce.

Less Likely Pierce Hits Free Agency

"The team has made it clear to Pierce that he will be a Colt, either through a tag or a long-term deal, before the new league year," wrote Fowler. "The Colts have work to do to make that happen, but that is the plan. But while Pierce seems like a logical tag candidate, multiple people connected to the situation believe Jones is a prime candidate for it."

The deadline for teams to place the franchise or transitional tag on a player is March 3rd at 4:00 PM ET, so the Colts are really pushing the limits on placing one on quarterback Daniel Jones or Alec Pierce.

While Fowler believes it isn't likely that Pierce hits the open market, there is always the chance he does, but it will come with a hefty price tag if he were to reach free agency.

At What Cost?

"A franchise tag for Pierce would come in around $27 million, while Jones would get $43.9 million on the franchise tag and $37.8 million on the transition. Those numbers are steep but reasonable. The Colts haven't tipped their hand in a possible direction. Pierce would command a massive contract if he hit free agency. In November, we reported his market could hit $20 million. Think higher now."

If Pierce does indeed command that type of money in free agency, it would make it extremely difficult for the Patriots to commit to such a contract with their current salary cap space. Obviously, restructuring Stefon Diggs' contract, and/or others, could help in this area, but ultimately, they could look elsewhere for a cheaper option that still elevates their skill on the outside.

Graziano added, "If the Colts can't get a deal done with Jones by Tuesday's tag deadline, it sounds like they'll put the transition tag on him. That means Pierce could hit free agency and another team could sign Jones to an offer sheet (and the Colts wouldn't get draft pick compensation if he were to sign elsewhere)."

It's an interesting dilemma that the Colts find themselves in, and it will come down to how much they value Jones coming off his Achilles injury, along with how much they are willing to part with in order to retain Pierce in their offense.

There are plenty of scenarios yet to play out, but either way, the Patriots should continue to evaluate their options at wide receiver, whether that includes Pierce as a target or not.

This article first appeared on New England Patriots on SI and was syndicated with permission.

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