The Indianapolis Colts were ripped for paying top dollar for two of their most important stars.
The Indianapolis Colts knew they needed to make big changes this offseason to get over the hump and return to the playoffs, but there were a couple of key areas where they felt they needed to "run it back."
The team's biggest priorities were re-signing free agents Daniel Jones and Alec Pierce, who were a substantial reason for the team's 8-2 start to the 2025 season.
However, Gary Davenport of Bleacher Report conjured his "10 Worst Free-Agent Signings of the 2026 NFL Offseason," and the Colts' re-signings of Jones and Pierce made the list.
"To be fair, the Indianapolis Colts were kind of backed into a corner where quarterback Daniel Jones was concerned.
Over 13 starts last year, Jones played the best football of his seven-year career. He set career highs in completion percentage (68.0) passing yards per game and posted a passer rating of over 100 for the first time in his career. But then he tore his Achilles tendon, and the Colts' season unraveled.
The Colts originally slapped the transition tag on Jones before agreeing to terms on a two-year, $88 million pact, including $60 million in guarantees. It's the biggest two-year contract ever awarded in the NFL...
Maybe Jones will be ready for Week 1 despite the severity of the injury. Maybe he can repeat last year's success despite his struggles in New York. Maybe he's the next Sam Darnold.
Or maybe the Colts should have let Jones play out the 2026 season on the transition tag while they saw how all those "maybes" played out."
If the Colts allowed Jones to play on the transition tag, his cap hit in 2026 would've been $37.8 million rather than the $19.1 that it is now. They also may not have been able to convince Pierce to re-sign with them, as Pierce wanted to ensure Jones was taken care of before returning to the Colts.
While Jones' two-year, $88 million contract looks expensive (I mean, it is), there is $0 in guaranteed money attached in 2027, so they have an out next offseason if 2026 doesn't go well.
Jan 4, 2026; Houston, Texas, USA; Indianapolis Colts wide receiver Alec Pierce (14) catches a touchdown pass against the Houston Texans during the first half at NRG Stadium. Mandatory Credit: Thomas Shea-Imagn Images"Last year, Indianapolis Colts wide receiver Alec Pierce surpassed 1,000 receiving yards for the first time in his professional career.
For the second year in a row, the 25-year-old led the league in yards per catch. That production landed him a massive raise in the form of a four-year, $114 million contract extension...
It's entirely possible that, had the Colts not backed up a Brinks truck for Pierce, someone else would have. But in terms of total contract size, he's now being paid like a top‑10 NFL receiver. Last year, he ranked 76th in receptions, 20th in receiving yards and 27th in receiving touchdowns.
And with Michael Pittman Jr. no longer in Indy, Pierce is now going to see the lion's share of opposing defenses' attention."
To Davenport's credit, Pierce's lack of production is legit. Pierce has never been targeted more than third-most in a season by the Colts, and last year's career high of 84 was actually fourth. However, the Colts already acknowledged and committed to seeing this through, trading Michael Pittman Jr. to make room financially for Pierce's deal and to free up the passing game for a bigger role for Pierce.
While part of Pierce's large contract figure is based on being a proven deep threat — like Davenport said, Pierce has led the NFL in yards per catch in each of the last two years — most of it is projection.
Colts general manager Chris Ballard has said numerous times that you don't pay huge free-agent contracts based on what a player has already done; you pay them for what they're going to do.
The Colts plan to have Jones and Pierce do quite a bit for them in 2026 and beyond.