With the Dallas Cowboys placing the franchise tag on NFL All-Pro wide receiver George Pickens, the market for 25-year-old Indianapolis Colts wide receiver Alec Pierce has gone through the roof.
Projections for Pierce, which started at around a 4-year, $81 million contract — roughly $20.25 million per year — have shot up to a 4-year, $108 million contract, which would pay him around $27 million per year.
Just 1 day ahead of the start of free agency, the Washington Commanders have shot to the top of the race for Pierce, who would be a dynamic pairing with 3rd year quarterback Jayden Daniels and $97 million wide receiver Terry McLaurin in 2026.
“Expect negotiations between Alec Pierce and the Colts to go down to the wire as the team tries to keep him off Monday’s open market,” ESPN’s Jeremy Fowler wrote on Sunday. “That’s going to be a challenge. Pierce appears poised to make at least $27 million per year on a new deal. The Patriots, Commanders, Raiders and Titans are among teams in the mix.”
Pierce, 6-foot-3 and 211 pounds, had career highs of 47 receptions for 1,003 yards and 6 touchdowns in 2025 while missing 2 regular-season games.
The Colts were forced to decide between a franchise tag for Pierce or quarterback Daniel Jones, ultimately going with Jones and letting Pierce hit the open market.
Alec Pierce Led NFL in YPC Last 2 Seasons
Pierce, a 2022 second round pick (No. 53 overall) out of Cincinnati, has led the NFL in yards per catch the last 2 seasons.
Bleacher Report’s Kristopher Knox put Pierce at No. 9 on his list of the Top 50 NFL free agents in the 2026 cycle.
“Pierce has a good relationship with Jones,” Fowler wrote. “If the team tags Pierce but doesn’t reach a deal with Jones, for example, that could be an issue for Pierce. Conversely, tagging Jones ensures he will be there in 2026, a move that would appeal to Pierce. 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.”
Final Season for Terry McLaurin With Commanders?
The Commanders and McLaurin went through a nasty, prolonged contract negotiation in the 2025 offseason, which ultimately ended with the team coughing up a 3-year, $97 million contract extension.
McLaurin responded by having the worst season of his career as the Commanders went 5-12 just 1 year after going 12-5 in 2024 and advancing to the NFC Championship Game.
It’s why NFL insider Matthew Berry predicts 2026 will be the last season for McLaurin with the Commanders.
“The (Commanders) will look to add to the wide receiver room with an emphasis on speed and don’t be surprised if 2026 is Terry McLaurin’s last year with the team,” Berry wrote on Monday. “To that end, one source told me that while almost everyone expects Washington to go defense in the first round this year, if the top three edge guys are all gone by No. 7, don’t be surprised if the Commanders take (Ohio State wide receiver) Carnell Tate.”
Commanders Linked to Projected $108 Million Free Agent WR