NFL Free Agency: Colts keep Alec Pierce around, trade Michael Pittman Jr.

Alec Pierce, who has reportedly received offers elsewhere, will remain with the Colts after agreeing to terms on a four-year, $116 million deal, making him the highest-paid free agent receiver in the franchise. NFL History, according to multiple reports.

Pierce will have $84 million in guarantees, including $60 million fully guaranteed at signing.

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Indianapolis Colts wide receiver Michael Pittman Jr. (11) looks on during the NFL football game between the Indianapolis Colts and Pittsburgh Steelers on November 2, 2025 at Actress Stadium in Pittsburgh, Pennsylvania. (Mark Alberti/Ikon Sportswire)

After news of Pierce hit the free agency stream, the Colts made a trade for him Pittsburgh Steelerssending veteran receiver Michael Pittman Jr. in exchange for a last-round pick swap, which has not yet been announced.

With Pittman’s deal set to expire after this year, the Steelers have reportedly signed him to a new three-year, $59 million contract to keep him around for the foreseeable future.

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The Steelers needed wide receiver help to go along with DK Metcalf, whom they traded to the Seattle Seahawks last season. The big question is who will throw passes for them this season, as all eyes are on quarterback Aaron Rodgers and whether a reunion with new coach Mike McCarthy, with whom he spent years in Green Bay when he starred for the Packers, is in the cards.

For the Colts, Pierce is one who had a breakout season in 2025, seeing his first 1,000-plus yard campaign on just 47 catches, showcasing his abilities as a deep ball threat with Daniel Jones as the team’s new starting quarterback. Pierce quickly became one of the best deep ball players in the NFL, and the Colts knew that this aspect of his game made their offense a major threat.

They definitely paid him that way to make sure he didn’t pursue any other options in the market. Then he said again “The Pat McAfee Show” on ESPN How much he wanted to stay where he was.

Alec Pierce of the Indianapolis Colts catches a touchdown pass against Derek Stingley Jr. #24 of the Houston Texans during the second quarter of the game at NRG Stadium on January 4, 2026 in Houston, Texas. (Tim Warner/Getty Images)

“I knew where my heart was,” he said on the programme. “I loved the city of Indianapolis. I just saw where we were last year, early in the year, kind of rolling. I really think we were the No. 1 team in the NFL and obviously we didn’t finish the season the way we should have.”

The Colts saw Jones go down with an Achilles injury, ruling him out for the rest of the year at the worst possible time. Philip Rivers was called upon to make his shocking return to the field, but the Colts couldn’t make the playoffs despite an 8-2 start.

Jones earned the transfer tag from the Colts this offseason, allowing Indianapolis to aggressively pursue Pierce, knowing they must have the quarterback back for the 2026 campaign.

Alec Pierce, wide receiver for the Indianapolis Colts, looks on during the game between the Jacksonville Jaguars and Indianapolis Colts on December 7, 2025 at Everbank Stadium in Jacksonville, Florida. (David Rosenblum/Icon Sportswire)

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With Jonathan Taylor setting the tone in the Colts’ backfield, Pierce is stretching the defense with his threat to go long, with 36.2% of his receptions going 20 or more yards in 2025.

At the same time, the Steelers and McCarthy know Pittman is a reliable pair of hands, willing to do the dirty work at short and intermediate to move the chains and provide a physical presence no matter the task with his 6-foot-4 frame.

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