According to FOX59/CBS4’s Mike Chappell, the Indianapolis Colts are reportedly holding ongoing contract negotiations with both pending free agents: starting quarterback Daniel Jones and top wide receiver Alec Pierce—with this year’s free agency period officially kicking off on March 11 at 4 PM EST:
With a number of other internal key free agents, including, starting right tackle Braden Smith, safety Nick Cross, defensive ends Kwity Paye and Samson Ebukam, and linebacker Germaine Pratt, it’s Jones and Pierce who are clearly this class’s priority free agents for Indianapolis to hopefully re-sign before they reach the open market.
However, per ESPN’s Stephen Holder, the Colts contract negotiation talks with both Jones and Pierce haven’t recently progressed too far—as each side appears to remain rather far apart respectively.
Still, there’s some time left for the sides to strike multi-year deals before the clock strikes midnight.
In particular, Pierce is expected to have a number of interested suitors, and the Colts 2025 leading wideout, after a breakout campaign and blossoming into a premier NFL deep threat, could be poised to receive a huge pay day—if he hits the market as an unrestricted free agent.
Right now, it would behoove the Colts, armed with a projected $35.7M of available team salary cap space (*but with the clear flexibility to free up more), to at least re-sign one of Jones or Pierce here early on.
That way, they could save the franchise tag for the other priority free agent player, in case contract negotiations ultimately break down with that remaining unsigned player.
While Jones next deal could surpass Pierce in average annual value, he also would have less likely suitors with immediate starting quarterback openings, whereas Pierce has so far been connected to nearly every team who could use a potential wideout upgrade this early offseason.
It would make sense to at least save the tag for Pierce because if a contract cannot be reached between him and the Colts before free agency formally kicks off, that heated bidding could get highly excessive—with Indianapolis potentially being priced out for Pierce (i.e., see Dayo Odeyingbo last offseason).
Point being that free agency can be unpredictable, meaning if the Colts are really hoping to retain either of these two players—especially Pierce, they should ink a lucrative, multi-year contract extension with him sooner rather than later.