Indianapolis Colts fans likely rejoiced when wide receiver Alec Pierce was re-signed this offseason, while the team also brought back quarterback Daniel Jones. But now that the structure of Pierce's deal is known, fans might be asking one question: Why isn't Indy doing more with the money it has?
While Pierce's new deal is for as much as $116 million over four seasons, his cap hit in 2026 is only $9.2 million. Jones' new contract only has a cap hit of a little over $14 million next season. According to Over the Cap, the Colts still have $42,142,289 to spend in free agency.
General manager Chris Ballard deserves credit for maneuvering around the Jones and Pierce free agency situations and still leaving the team with a bunch of cash. What he also needed to do was use that saved money and spend it on a high-end edge rusher or two.
Indianapolis Colts have a relatively inexpensive Alec Pierce in 2026, but the money changes after that
Now that the first week of free agency is over, the free agents that remain at edge rusher are not the greatest group. Joey Bosa is still available, but he is 31 years old and hasn't been overly productive since 2021. He is also a constant injury risk.
A.J. Epenesa is one of the better players available at the position, but that doesn't mean he is one of the better players in general. His career high in sacks is only 6.5, and he had just 2.5 in 2025.
Perhaps Cameron Jordan would be a nice one-year pick-up, though he will be 37 years old in 2026. He had 10.5 sacks this past season, and as he has played his entire 15-year career with the New Orleans Saints, he might not want to end his time in Indianapolis.
The positive part is that Indy still has money to spend in 2026. After that, things get a bit more complicated.
Alec Pierce's future cap hits look this way:
- $9.2m in 2026
- $35.2m in '27
- $32.2m in '28
- $32.2m in '29
- $5.2m in '30 (void)
In 2027, the Indianapolis Colts are set to have $98,403,355 to spend, according to Over the Cap, but that number is misleading. The team has a number of important players set to hit free agency next offseason and will need to be re-signed.
The list includes future Pro Football Hall of Fame left guard Quenton Nelson, running back Jonathan Taylor, wide receiver Josh Downs, and defensive tackle Grover Stewart (though Stewart likely won't be re-signed as he will be 33 years old next offseason). Indy's cap is going to be eaten up quickly by these players.
The time to sign an edge rusher was this offseason, and while the Indianapolis Colts still have the money to do so, the quality of what is left in free agency isn't good. The lack of an earlier move might turn out to be a wasted opportunity.