According to PFF, the Indianapolis Colts best and worst free agency moves happened to be their top two free agency priorities, regarding re-signing both wide receiver Alec Pierce and quarterback Daniel Jones respectively:
Indianapolis Colts
Favorite Move: WR Alec Pierce
Admittedly, the Colts made a big investment in a wide receiver who has not truly had to play as a No. 1 option until this point. However, Pierce has been too valuable for the team to let him walk in free agency. Based on PFF Wins Above Replacement, Pierce was the 13th-most-valuable wide receiver in football last season, which lines up well with the Colts making him the 12th-highest-paid player at the position.
Least Favorite Move: QB Daniel Jones
The Colts did not have much leverage in this situation, and it was a foregone conclusion that they would need to stick with Jones, at least for the near future. On a positive note, they are committed to the quarterback for only two seasons. Still, making him the 13th-highest-paid quarterback in the league, at an average of $44 million per year over the next two seasons, is an overpay based on how the 2025 season ended. Despite a very strong start to his campaign, Jones ended up just the 21st-highest-graded quarterback (71.7).
Regarding Pierce, the Colts offered him a record-breaking 4-year, $114 million deal, which was a bit of an overpay just as free agency formally began, but Indianapolis simply couldn’t afford to lose him during its first frenzied wave—with a number of interested external suitors.
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Since being the Colts’ 2022 2nd round pick, the 25-year-old has only gotten better each year he’s been in the league, and this past season, he truly broke out as Indianapolis’ new WR1. The Colts will look to get him more touches all over the field, as he continues to develop as an all-around route runner, but Pierce has become arguably the league’s best deep threat, having led the league in average yards per reception two years in a row.
By no means is Pierce is an elite NFL wideout yet, but he possesses an elite singular skill-set downfield with his ability to separate vertically, high point the football, make acrobatic catches, and play through contact.
Meanwhile, the Colts locking up Jones for the next two years, was a big part of Pierce electing to return to Indianapolis, although the lucrative multi-year money likely plated a major factor too.
While one could make the argument that Arizona Cardinals veteran quarterback castoff Kyler Murray, who after being released, signed with the Minnesota Vikings for the veteran’s minimum, offered more bang for their potential buck—particularly for 2026, with Jones coming off a late season torn Achilles injury, there’s no question that Jones showed impressive initial rapport with Colts head coach Shane Steichen and a clear understanding of his offense and making the right passing reads. He was in the midst of a career season before critical injuries struck and ultimately ended his season during Week 14 prematurely.
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Like Pierce, the Colts overpaid to retain Jones, who should’ve made closer to Sam Darnold money of a year ago. That being said, if the Colts are convinced that Jones is their guy for the foreseeable future at QB1, then there’s no way they could afford to let him walk, having endured a turnstile at the position since Andrew Luck retired.
The encouraging news is that even though the average annual value of Jones’s deal is quite large, which is the quarterback position these days, it’s short—being only two years, meaning it offers the Colts an easy short-term out if the former New York Giants franchise quarterback hopeful can’t regain his first half of 2025 season form.
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