Indianapolis Colts fans can rejoice as the team made a move that had been bandied about since the past offseason. Free agent wide receiver Keenan Allen agreed to a one-year deal worth as much as $8.32 million with Indy on Monday, according to ESPN's Colts reporter Stephen Holder.
The move likely doesn't portend doom for the return of WR1 Alec Pierce from injury, though, but is separate altogether. Allen is more of a pure replacement for the traded Michael Pittman Jr. Indy needed a WR3, and whether Pierce had had ankle surgery or not, a player like Allen was needed.
His joining the team does affect other players negatively, though. Ironically, those players' loss only means the team is better. Allen is a veteran receiver with great hands who will pick up third downs the way Pittman did, and his presence should help Pierce keep being the explosive wideout he has become.
Winners and losers from the Indianapolis Colts signing Keenan Allen
Winner: General manager Chris Ballard
Ballard had seemingly let too many players who would have helped Indianapolis in 2026 sign elsewhere, including edge rushers Von Miller (to the Dallas Cowboys) and Jadeveon Clowney (to the Houston Texans) and wide receiver Deebo Samuel (to the San Francisco 49ers). Doing nothing with such obvious needs at receiver and edge rusher would have been a terminable offense.
Now that Ballard has signed the best remaining free agent wide receiver, he has upgraded the position, while also giving a little insurance should Pierce not be able to play until after Week 1. Allen isn't Pierce, though, and shouldn't be viewed as his replacement. Allen will keep the offense on the field as a possession receiver, while Pierce will beat teams deep.
Loser: Wider receiver Deion Burks
The seventh-round draft pick was battling to make the roster, and he was buoyed by a wideout depth chart that was top-heavy. He might have stuck on the team because, after Alec Pierce and Josh Downs, the group was iffy.
With Allen agreeing to a one-year contract, Burks might now not last the rest of training camp. He isn't going to make the roster, and as a seventh-round selection, his best hope might be making a practice squad somewhere, potentially still in Indianapolis.
Winner: Quarterback Daniel Jones
Jones is at his best when he can run a quick-timing offense that doesn't rely solely on post patterns. Take away Michael Pittman, and the offense was trending toward needing a lot more of Pierce's success downfield.
With the addition of Allen, Jones now has a safe target to convert third downs that will allow the team to keep moving the ball. If that happens, maybe Pierce would be able to catch a pass 50 yards down the field on the next play.
Loser: Wide receiver Laquon Treadwell
Treadwell wasn't likely to serve as WR3, but he plays a position where the Indianapolis Colts will stash special teams players. That was the phase in which Treadwell had a limited impact in his Indy career, but with Allen adding to the wide receiver group, Treadwell might be the odd man out.
Along with Pierce, Downs, and Allen, the wideout group could also include Nick Westbrook-Ikhine, Ashton Dulin, and Anthony Gould. Treadwell might have hung on to WR6, but safety Jonathan Owens can play special teams well, too, which makes Treadwell expendable.
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