The Pittsburgh Steelers could be active in free agency this year. With Mike McCarthy and his new coaching staff in town, it's already been an offseason full of change. Now, the Steelers have roughly $45 million in cap space to work with, and more could be available as several overpriced veterans may be released.
These savings could lead the Steelers to pursue a high-priced free agent. And given that wide receiver is one of the team's biggest positional needs, Alec Pierce could be on their radar.
Pierce, who was selected one pick after George Pickens in the second round of the 2022 NFL Draft, played his first four seasons with the Indianapolis Colts. After putting up 824 yards and seven touchdowns in his third NFL season in 2024, Pierce exploded for the best campaign of his career in 2025.
This past season, Pierce topped 1,000 receiving yards on just 84 targets while chipping in six touchdowns. Now, for his second straight season, Pierce led the NFL in yards per reception while recording an elite 11.9 yards per target.
But despite his efficiency and success over the past two seasons in Indy, this is a free agency risk Omar Khan and the Steelers can't afford to take.
The Pittsburgh Steelers shouldn't get into a bidding war for free-agent WR Alec Pierce
It's hard not to be impressed with Pierce's deep-threat ability over the past two seasons. Averaging over 21.5 yards per reception over his most recent two-year span is a rare feat. Meanwhile, Colts' quarterbacks earned a 112.4 passer rating when targeting Pierce last season.
But despite his recent production and efficiency, the Steelers can't afford to take the bait in free agency.
With free agency looming, Pierce's contract projections are already through the roof. According to Pro Football Focus, the 2022 second-round pick is expected to earn $24 million per season in average annual value on his next contract in free agency. Spotrac.com shares similar projections, with Pierce's contract value topping $20 million per season.
Throwing a four-year, roughly $100 million contract at a WR2 is a risky investment. However, in the case of the Steelers, the risk is magnified because of their situation and what they already have.
DK Metcalf is currently the team's No. 1 wide receiver. Metcalf wins with size and his ability to box defenders out down the field. He's not a nuanced route-runner, despite his NFL experience, and he can't operate effectively from every alignment.
The Steelers would be getting more of the same with Pierce. While the presence of Pierce with Metcalf would force teams to respect the deep ball and the sidelines, this combination wouldn't be ideal for intermediate areas of the field and manipulating coverages.
Quite frankly, Alec Pierce isn't a good fit for the Steelers with DK Metcalf on the team, and paying a steep free agency tax makes going after the athletic receiver even riskier in free agency.
This is too much money to dish out to a quality WR2 who doesn't offer the complementary skill set the Pittsburgh Steelers need at the wide receiver position.