Positive Movement Between Colts & WR Alec Pierce

He adds a deal between the two sides today feels possible, but odds are it will go down to the wire. The deadline for the franchise tag is today and Indianapolis has two strong candidates between Pierce and QB Daniel Jones, but only one tag. 

Holder says things between the Colts and Jones remain fluid. 

Whichever player the Colts don’t tag would have a clear path to testing their value on the open market. The tag for receivers is $27.3 million and for quarterbacks it’s $43.9 million. 

The transition tag is also an option. The value is lower, $23.85 million for receivers and $37.83 million for quarterbacks, and gives the Colts the right of first refusal on an offer sheet. However, it does not entitle them to draft compensation, meaning it’s less protective. 

Jones, 28, was selected by the Giants with the No. 6 overall pick out of Duke in the 2019 NFL Draft. He finished the final year of his four-year, $25,664,056 rookie contract that included a $16,684,768 signing bonus. 

In 2025, Jones appeared in 13 games for the Colts and completed 68% of his passes for 3,101 yards, 19 touchdowns, and eight interceptions. He also added 164 yards rushing and an additional five touchdowns.

Pierce, 25, is a former second-round pick by the Colts in the 2022 NFL Draft out of Cincinnati.

He’s in the final year of a four-year $6,601,342 rookie contract that included a $1,980,976 signing bonus.

In 2025, Pierce appeared in 15 games for the Colts and recorded 47 receptions on 84 targets for 1,004 yards (21.3 YPC) and six touchdowns.

We have both included in our Top 100 2026 NFL Free Agents list.