NFL free agency grade: WR Alec Pierce gets record-setting $116M deal to remain with the Colts

Alec Pierce owes Daniel Jones some money.

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If it wasn’t for Jones getting the transition tag, the Indianapolis Colts could have given Pierce the franchise tag, which is $27.3 million for a receiver. Instead, the Colts had to pay top dollar to keep Pierce from leaving. Indianapolis signed him to a record-setting deal right as the NFL’s period began for contacting free agents.

There should be some sticker shock with Pierce’s deal. It’s a four-year deal worth $114 million, with the ability to reach $116 million, and $84 million is guaranteed, according to NFL Media. That’s the biggest deal for a free-agent receiver.

Alec Pierce of the Colts got a massive deal to stay in Indianapolis. (Photo by Tim Warner/Getty Images)Tim Warner via Getty Images

It’s good to hit the open market, rather than being tagged.

Pierce is a very good vertical threat. He has led the NFL in yards per catch each of the last two seasons. He was one of the hottest names in free agency. Part of that is he’s just 25 years old coming off his first 1,000-yard season. But $114 million is steep.

Pierce has 2,934 yards in four seasons and has never been above 1,003 yards or 47 receptions in a season. He has 17 touchdowns in 64 career games. He has not had great quarterbacks throwing to him through his career, and a vertical threat like Pierce impacts the game in ways that numbers won’t show. But it’s a lot of money for Pierce’s statistical profile.

Pierce is a talented receiver, and other teams feel that way given how many seemed to be lining up to offer him a huge deal. The Colts clearly value him and did not want him to stay. We’ll see how the contract ages.

Grade: C+

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