As NFL free agency was gearing up, Pittsburgh Steelers fans had two things at the forefront of their mind—find a quarterback and fix the wide receiver position. While we assumed landing the next starting QB was going to take some time (and that could still be Aaron Rodgers), one name many fans were interested in was free-agent receiver, Alec Pierce.
However, Steelers fans quickly realized they dodged a nightmare when they saw Pierce's new contract.
Just as the negotiation period opened up, ESPN insider Adam Schefter reported that the Indianapolis Colts had reached a deal to retain their top free-agent target. Pierce is staying in Indy on a four-year, $116 million deal.
That's not a typo; you read that right.
Pierce, a 2022 second-round pick who recorded 1,003 yards in 2025 (his first season over 825 yards), just earned a contract paying him $29 million per season. And just like that, Steelers fans can be thankful they missed out on the Pierce sweepstakes.
The Pittsburgh Steelers couldn't afford to gamble on free-agent WR Alec Pierce
Pierce wanted to test the market, but with the Colts coming in with a steep $29 million-per-year contract offer, how could he refuse? The signing was announced just two minutes after the NFL's negotiation period kicked off—effectively keeping Pierce's agent from fielding calls.
While the Steelers might have been interested in Pierce, there was never a shot they were going to match the Colts' offer—an offer that, by the way, came in $5 million more per season than what Pro Football Focus had predicted.
Pierce is a quality receiver worthy of being a team's No. 2 option in the passing game. He led the NFL in yards per reception in back-to-back seasons while managing an outstanding 11.9 yards per target. Still, for a wideout who has never recorded more than 47 receptions in a season, this was a gross overpay.
Furthermore, Pierce's skill set as a big-bodied deep-threat would not have been an ideal pairing with DK Metcalf, as there would have been excess overlap in roles. Instead, the Steelers should be targeting a shifty weapon with route-running chops who knows how to manipulate coverages. That doesn't fit the description of Pierce or Metcalf.
The Steelers just got a massive wake-up call for the going rate of quality young NFL receivers... and it's massive. Pierce's huge $116 million contract could throw the wide receiver market out of whack and give Pittsburgh even more incentive to look for WR help in the 2026 NFL Draft.