Report: Colts, Alec Pierce reaching a deal on Tuesday "feels possible"

It's a big day for the Colts, as the deadline to place the franchise or transition tag on a player will hit at 4 p.m. ET.

Indianapolis has two pending free agents who could be tagged: quarterback Daniel Jones and receiver Alec Pierce. General Manager Chris Ballard said at last week's scouting combine that his preference would be to retain both without using a tag.

While that scenario appears unlikely at this point, there is some positive energy building for Indianapolis and Pierce. According to Stephen Holder of ESPN, the talks with Pierce have continued and it "feels possible" that the two sides could strike a deal as soon as Tuesday. But, Holder notes, there’s still a long way to go and the situation will likely come down to the franchise tag deadline this afternoon.

Additionally, Holder notes that Pierce would like certainty at quarterback, with the receiver being a big proponent of Jones. If there is no certainty with Jones, then Pierce does not have as much reason to sign a long-term deal with Indianapolis.

Jones’ situation remains fluid, with the franchise tag and transition tag a possibility for him.

Pierce has led the league in yards per reception in each of the last two years. He finished 2025 with a career-high 47 receptions and 1,003 yards with six touchdowns.