The Indianapolis Colts have some huge needs this offseason, and once those needs are resolved, they need to be resolved nearly immediately. The best-case scenario is that the team will re-sign both quarterback Daniel Jones and wide receiver Alec Pierce and do so before March 9. Otherwise, problems could occur.
March 9 is the unofficial start of free agency. Teams can talk with free agents, have them agree verbally to deals, and then officially sign them on Wednesday, March 11. Teams can talk to their own free agents prior to that and work out new deals before other teams have a chance to negotiate with them.
This is the timeline Indy is with Jones and Pierce currently. The other part that could factor into keeping the QB and WR is the use of the franchise tag or the transition tag. The latter is rarely used, but the former is quite often. A team can place a non-exclusive franchise tag on a player, and if that player signs elsewhere, the team losing the player gets multiple first-round picks in return.
Signing Daniel Jones could help make the Indianapolis Colts work with Alec Pierce easier
According to various outlets, Colts general manager Chris Ballard is in discussions with both Jones and Pierce on new long-term deals. Unfortunately, according to ESPN's Stephen Holder, the players and team are far apart in terms of the financials.
Is Indy wanting to underbid currently in hopes of the players signing, or are the players wanting to get to free agency to see what the market will pay? There are risks all around.
Ideally, Daniel Jones could accidentally help the Indianapolis Colts when it comes to Alec Pierce. Should Jones agree to a deal before March 3, the date by which the franchise tag would need to be applied, and Pierce hasn't done the same, Indy could then apply the franchise tag on Pierce after having wrapped up Jones. This would keep the duo together for at least another year.
Of course, Indianapolis could do the same in the reverse situation, but things get a lot more costly that way. The franchise tag for a quarterback is $47.4 million. The tag for a wide receiver is nearly $20 million less at $28 million. Tagging Jones would be more financially straining than doing the same with Pierce.
The truth is that Chris Ballard doesn't need to keep doing business the same way he has been. He waits and waits to do much of anything, and that hasn't always worked out well. The Colts general manager could have been talking to Jones and Pierce's agents during the season instead of waiting until the last few weeks before free agency.