The Indianapolis Colts need to do two things this offseason. One is to re-sign quarterback Daniel Jones. The other is to re-sign wide receiver Alec Pierce. If one happens, fine. If both occur, there is reason for celebration. If neither happens, there will be trouble.
The problem is that, according to ESPN's Colts reporter Stephen Holder, the team is nowhere close to getting Pierce or Jones to agree to a deal. This is the normal way general manager Chris Ballard does business. He seemingly likes to wait until the 11th hour to make deals, and that could bite him this offseason.
To be sure, Ballard didn't need to wait until almost the start of free agency to be aggressive in bringing Jones and Pierce back. The GM could have started talks during the season, but that didn't appear to have happened. Waiting so long could mean another team swoops in and scoops up Jones or Pierce.
Indianapolis Colts and Daniel Jones don't seem close in contract talks
Still, the priority has to be the quarterback, of course. Every play funnels through a QB. As great as Pierce is, he relies on the quarterback to get him the ball. Jones dictates everything with the ability to adjust a play at the line of scrimmage.
Pierce played with Anthony Richardson and Joe Flacco before Jones arrived last offseason, and he was still good, though he didn't get the ball enough. He didn't get the ball enough in 2025, either. He had more than 1,000 yards receiving, but fewer than 50 catches.
Partly, head coach Shane Steichen's system needs a quarterback who can spread the ball around, and Daniel Jones did that well. The first half of the season was pure magic. Then, injuries set in, including two to Jones.
It is because he tore his Achilles tendon in Week 14 that, ironically, it could force him elsewhere. The quarterback is iffy to be ready in Week 1 of 2026, and he might not return until midway through the season. The smart move would be for a team to sign Jones to a lucrative multi-year deal in hopes that he is fully ready to go in 2027.
Holder tweeted, "Regarding the negotiations with QB Daniel Jones and WR Alec Pierce, they weren’t close as of my last conversations. I would say the franchise tag AND transition tag are in play. Ballard tends to work on a deadline, so this isn’t surprising IMO."
The franchise tag for a quarterback is $47.7 million. The hope is that the Indianapolis Colts will be able to re-sign Daniel Jones without forcing him to come back by applying the franchise tag. That doesn't necessarily build long-term trust between the team and the player. Chris Ballard shouldn't have waited this long to underwhelm Jones with offers, and he might lose him because of that.