Of the several free agents the Indianapolis Colts have signed so far in this offseason, two of them were re-signed: quarterback Daniel Jones and wide receiver Alec Pierce. There were others to re-sign with the Colts, but Jones and Pierce were at the top of the priority list once the regular season ended.
Jones re-signed a two-year $88 million deal ($60 million in guarantees), while Pierce cashed in on four years at $114 million. That's a lot of money for two players who certainly showed potential for being very good to great, but for both Jones and Pierce, the tape was still limited; the Colts took the risk anyway.
Without question, for the Colts' chances of winning and being competitive next season, Jones and Pierce returning only help that. That said, at what cost? Financially speaking, both deals seem over the top (Jones's is the biggest two-year contract in NFL history).
Indianapolis Colts' Daniel Jones and Alec Pierce land on Bleacher Report's list of worst offseason signings
In that light, the Colts recently received a negative review from Bleacher Report's rankings of the worst free agent signings this offseason.
Analyzing Bleacher Report's "10 Worst Free-Agent Signings of the 2026 NFL Offseason," there is a theme: players signed with teams that may have overreached. Kenneth Walker III, for instance, is the reigning Super Bowl MVP, but the Seattle Seahawks let him walk. The Kansas City Chiefs paid him like a franchise running back, but is he?
Perhaps due to their questionable running back situation before signing Walker, the Chiefs felt like they had to overpay out of desperation. Desperation might be why the Colts gave Jones his new deal at the dollar amount they did, because they were backed into a corner. If not Jones next season, who was going to be their quarterback? The options available weren't many, or that great, for that matter.
Or, maybe Jones showed enough in the 13 games he played last season that he was the Colts' man, at least for a couple of years. Still, given Jones's track record since entering the league with the New York Giants, the biggest two-year contract in league history was a surprising move for someone like Jones, who is largely unproven.
Then, there is Pierce, who was going to get a lot of money from someone, somewhere else, if not in Indianapolis. Pierce had his best season last year, and as the newly minted No. 1 wide receiver for the Colts, he'll be Jones's No. 1 option, and considering the money Pierce is raking in, it's in his best interest to make good on the trust the Colts have clearly put in him.
Considering the market, or lack thereof, the Colts had to make both deals on Jones and Pierce; otherwise, their trajectory going into next season would put general manager Chris Ballard's job very much on the line.
What Ballard and the Colts need is for these signings to pan out; that means Jones's recovery must go well, and hopefully he'll be ready for the start of the regular season. The Colts showed what they were capable of before Jones went down last year, and they'll be expected to replicate that showing and more.
If they achieve this, then come next offseason or the one following, maybe the signings Bleacher Report views as unfriendly will force those on the outside to change their viewpoint.
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