After the 2026 NFL Combine, the Indianapolis Colts now turn their attention to free agency after collapsing late in the 2025 season. At the center of decisions (besides Daniel Jones) is wide receiver Alec Pierce, who is set to hit free agency and is widely expected to re-sign. However, ESPN’s Adam Schefter has added another layer, naming three interested teams.

“Alec Pierce, I think, is a guy that’s gonna get a lot of interest. He’ll go quick,” Schefter said on Pardon My Take, while naming three teams that might be interested. “Patriots, Bills, Colts obviously, trying to give a wide receiver needy team, who’s got cap space, Cleveland.”

Schefter’s projection isn’t random. For starters, both the New England Patriots and Buffalo Bills have clear questions at the wide receiver position. As for the Cleveland Browns, they reportedly hold over $17 million in cap space, per Over the Cap. From a roster and financial standpoint, the logic tracks.

Pierce’s value isn’t theoretical, as the WR is entering free agency after the best season of his career. In 2025, he played 15 games, hauling in 47 receptions for 1,003 yards (crossing the mark for the first time) and six touchdowns. That production capped off his rookie deal with the Colts and positioned him as one of the more intriguing names on the market.

Indy now faces a decision: franchise tag him or commit to a long-term deal. While many expect the Colts to retain him, the outside interest is genuine.

Start with New England. The Patriots signed Stefon Diggs last year, and he delivered. He recorded over 1,000 receiving yards in 2025, becoming the first Patriots wide receiver to hit that mark since Julian Edelman in 2019.

But the financial structure complicates things. Diggs’ base salary jumps from $2.9 million in 2025 to over $20 million in 2026, with a $26.5 million cap hit. If he remains on the roster past March 13, $6 million becomes fully guaranteed. That’s why his name has surfaced in cut speculation. Even if Diggs stays, the Patriots still need another weapon for Drake Maye entering Year 3.

The Bills, meanwhile, have sustained regular-season success. But the absence of a true No. 1 receiver remains evident. Their top wideout in 2025, Khalil Shakir, finished with 719 yards and four touchdowns.

These numbers were productive but not exactly dominant. The numbers suggest Buffalo could benefit from pairing Shakir with a more vertical, field-stretching presence like Pierce.

Last but not least, the Browns’ receiving production tells its own story. Rookie tight end Harold Fannin Jr. led the team with 731 yards and 72 catches, while the top wide receiver, Jerry Jeudy, managed 602 yards and 50 receptions.

Cleveland ranked second-to-last in the league in total receiving yards per game at 185.4, well below the league average of roughly 220 to 235. From a pure need standpoint, wide receiver is firmly on the checklist.

When you stack it all together, it’s easy to see Pierce’s stock is rising. The real question isn’t whether teams will call. It’s whether the Colts decide to let the market speak or move quickly to keep their receiver in Indianapolis.

Daniel Jones might impact the Colts’ decision to re-sign Alec Pierce

According to ESPN’s Jeremy Fowler, the Colts have made it clear they want to retain wide receiver Alec Pierce in 2026. The uncertainty isn’t about intent, it’s about the mechanism.

Indianapolis could either lock him in with a long-term extension or use the franchise tag. If they go the tag route, Pierce would be projected to earn nearly $28 million for the 2026 season.

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At first glance, an extension feels like the cleaner solution. But it’s not that simple. Several outlets have projected Pierce’s market value at $20–$30 million per year. That’s premium wide receiver money. Any decision on that front may be directly tied to what happens at quarterback.

Daniel Jones was instrumental in the Colts’ best start in over a decade before going down, which strengthens his leverage in contract talks. He’s reportedly seeking a significant extension.

According to EssentiallySports’ Tony Pauline, however, Jones is asking for more than Indianapolis anticipated. The two sides are not close to an agreement, a development that could complicate Pierce’s situation.

“It looks as though something unusual is happening. I’m told the representatives for Daniel Jones and the Colts are not close to coming to terms on a new contract,” Pauline wrote. “Evidently, Jones wants more money than the Colts expected. This means the franchise may have to go to a contingency plan and put either the transition or franchise tag on Jones, then try to sign Pierce to an extension before free agency opens.”

In short, Pierce’s future isn’t just about his market. It’s about roster economics. He’s one of the more attractive names available and could draw multiple suitors.

At the same time, Indianapolis still holds leverage through the tag and extension options. Whether they act quickly or let the market develop may ultimately depend on how the Jones negotiations unfold.