The Colts structured the contract of wide receiver Alec Pierce in a way that gives Indianapolis salary-cap relief in 2026 and saves the larger cap hits for 2027 and beyond, after several other large contracts come off the books.
Pierce signed a four-year deal worth up to $114 million that includes a $26 million signing bonus, according to a source familiar with the contract, an average of $28.5 million that makes Pierce the 11th-highest paid wide receiver in the NFL.
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Indianapolis also included one void year in 2030 that spreads out the cap hit even further, although it will not come into play unless the Colts negotiate an extension at some point in the future. When a player’s signing bonus is calculated, it is spread over the full life of the contract, so teams sometimes include a void year at the end to further divide the signing bonus.
Pierce’s cap hit in 2026 is only $9.2 million because of the way the deal is structured.
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Oct 19, 2025; Inglewood, California, USA; Indianapolis Colts defensive tackle DeForest Buckner (99) looks on after the game against the Los Angeles Chargers at SoFi Stadium. Mandatory Credit: Gary A. Vasquez-Imagn Images
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Oct 19, 2025; Inglewood, California, USA; Indianapolis Colts defensive tackle DeForest Buckner (99) looks on after the game against the Los Angeles Chargers at SoFi Stadium. Mandatory Credit: Gary A. Vasquez-Imagn Images
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Indianapolis Colts guard Quenton Nelson (56) lead blocks for Colts running back Jonathan Taylor (28) on Sunday, Oct. 12, 2025, against the Arizona Cardinals at Lucas Oil Stadium in Indianapolis.
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INGLEWOOD, CALIFORNIA – SEPTEMBER 28: Charvarius Ward #7 of the Indianapolis Colts on field during the second quarter against the Los Angeles Rams at SoFi Stadium on September 28, 2025 in Inglewood, California. (Photo by Ronald Martinez/Getty Images)
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Oct 5, 2025; Indianapolis, Indiana, USA; Indianapolis Colts running back Jonathan Taylor (28) runs with the ball against the Las Vegas Raiders during the second quarter at Lucas Oil Stadium. Mandatory Credit: Trevor Ruszkowski-Imagn Images
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Indianapolis Colts cornerback Xavien Howard (4) and safety Camryn Bynum (0) celebrate after Bynum forces a turn over against the Miami Dolphins during the first half of a game Sunday, Sept. 7, 2025, at Lucas Oil Stadium in Indianapolis.
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Dec 7, 2025; Jacksonville, Florida, USA; Indianapolis Colts quarterback Daniel Jones (17) looks to throw downfield against the Jacksonville Jaguars during the first half at EverBank Stadium. Mandatory Credit: Travis Register-Imagn Images
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EAST RUTHERFORD, NEW JERSEY – NOVEMBER 17: Grover Stewart #90 of the Indianapolis Colts reacts after a fourth down stop during the second quarter against the New York Jets at MetLife Stadium on November 17, 2024 in East Rutherford, New Jersey. (Photo by Luke Hales/Getty Images)
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Indianapolis Colts cornerback Kenny Moore II (23) celebrates Sunday, Oct. 26, 2025, during the game at Lucas Oil Stadium in Indianapolis. The Indianapolis Colts defeated the Tennessee Titans, 38-14.
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Indianapolis Colts quarterback Anthony Richardson Sr. (5) during warmups before the game against the Miami Dolphins at Lucas Oil Stadium.
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Indianapolis Colts cornerback Sauce Gardner (1) reacts against the Atlanta Falcons during the NFL Berlin Game at Olympic Stadium on Nov. 9, 2025.
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Sep 7, 2025; Indianapolis, Indiana, USA; Indianapolis Colts quarterback Daniel Jones (17) celebrates with offensive tackle Bernhard Raimann (79) after a touchdown during the first half at Lucas Oil Stadium. Mandatory Credit: Trevor Ruszkowski-Imagn Images
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Indianapolis Colts tight end Tyler Warren (84) pulls in a catch for a first down Sunday, Dec. 28, 2025, during a game against the Jacksonville Jaguars at Lucas Oil Stadium in Indianapolis.
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KANSAS CITY, MISSOURI – NOVEMBER 23: Laiatu Latu #97 of the Indianapolis Colts intercepts a pass made by Patrick Mahomes #15 of the Kansas City Chiefs (not pictured) in the first quarter of the game at Arrowhead Stadium on November 23, 2025 in Kansas City, Missouri. (Photo by Jamie Squire/Getty Images)
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Indianapolis Colts wide receiver Josh Downs (2) makes a catch Sunday, Nov. 30, 2025, during a game against the Houston Texans at Lucas Oil Stadium in Indianapolis. The play was called back on a penalty.
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INDIANAPOLIS, INDIANA – SEPTEMBER 22: Jaylon Jones #40 of the Indianapolis Colts reacts during the first half of the game against the Chicago Bears at Lucas Oil Stadium on September 22, 2024 in Indianapolis, Indiana. (Photo by Michael Hickey/Getty Images)
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Indianapolis Colts cornerback Mekhi Blackmon (29) runs with the ball after intercepting a pass thrown by Las Vegas Raiders quarterback Geno Smith (7) on Sunday, Oct. 5, 2025, during a game at Lucas Oil Stadium in Indianapolis. The Colts defeated the Raiders 40-6.
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Indianapolis Colts wide receiver Ashton Dulin (16) reacts after a kickoff return Sunday, Dec. 28, 2025, during a game against the Jacksonville Jaguars at Lucas Oil Stadium in Indianapolis.
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Indianapolis Colts punter Rigoberto Sanchez (8) kicks the ball Monday, July 28, 2025, during training camp held at Grand Park in Westfield.
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Indianapolis Colts defensive end JT Tuimoloau (91) sings while warming-up Thursday, July 31, 2025, during Colts Training Camp at Grand Park in Westfield.
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Indianapolis Colts long snapper Luke Rhodes (46) snaps Friday, July 25, 2025, during training camp held at Grand Park in Westfield.
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Indianapolis Colts offensive tackle Matt Goncalves (71) prepares for stretching Thursday, July 24, 2025, during training camp held at Grand Park in Westfield.
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Indianapolis Colts cornerback Justin Walley (27) stands on the field Tuesday, June 10, 2025, during NFL Colts mandatory mini camp at the Indiana Farm Bureau Football Center in Indianapolis.
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Indianapolis Colts place kicker Spencer Shrader (3) kicks Friday, July 25, 2025, during training camp held at Grand Park in Westfield.
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Indianapolis Colts offensive tackle Bernhard Raimann (79) gets a five from fellow offensive tackle Blake Freeland (73) on Friday, July 25, 2025, during training camp held at Grand Park in Westfield.
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Indianapolis Colts defensive tackle Adetomiwa Adebawore brings down Las Vegas Raiders running back Dylan Laube.
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Nov 23, 2025; Kansas City, Missouri, USA; Indianapolis Colts center Tanor Bortolini (60) lines up against the Kansas City Chiefs during the game at GEHA Field at Arrowhead Stadium. Mandatory Credit: Denny Medley-Imagn Images
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PITTSBURGH, PENNSYLVANIA – NOVEMBER 02: Jalen Travis #75 of the Indianapolis Colts takes the field during player introductions before the game against the Pittsburgh Steelers at Acrisure Stadium on November 02, 2025 in Pittsburgh, Pennsylvania. (Photo by Justin K. Aller/Getty Images)
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BALTIMORE, MARYLAND – AUGUST 07: Safety Daniel Scott #32 of the Indianapolis Colts reacts against the Baltimore Ravens in the second half during the NFL Preseason 2025 game between Indianapolis Colts and Baltimore Ravens at M&T Bank Stadium on August 7, 2025 in Baltimore, Maryland. (Photo by Patrick Smith/Getty Images)
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Indianapolis Colts wide receiver Laquon Treadwell (13) celebrates with Indianapolis Colts tight end Will Mallory (86) after scoring a touchdown Saturday, Aug. 23, 2025, during a game against the Cincinnati Bengals at Paycor Stadium in Cincinnati.
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SEATTLE, WASHINGTON – DECEMBER 14: Blake Grupe #10 of the Indianapolis Colts kicks a field goal during the fourth quarter against the Seattle Seahawks at Lumen Field on December 14, 2025 in Seattle, Washington. (Photo by Jane Gershovich/Getty Images)
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Nov 23, 2025; Kansas City, Missouri, USA; Indianapolis Colts wide receiver Anthony Gould (6) runs against the Kansas City Chiefs in the second half at GEHA Field at Arrowhead Stadium. Mandatory Credit: Denny Medley-Imagn Images
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Dec 22, 2024; Indianapolis, Indiana, USA; Tennessee Titans tight end Chig Okonkwo (85) is tackled by Indianapolis Colts linebacker Jaylon Carlies (57) during the second half at Lucas Oil Stadium. Mandatory Credit: Marc Lebryk-Imagn Images
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Indianapolis Colts guard Quenton Nelson (56) and guard Josh Sills (66) walk onto the field Thursday, Aug. 14, 2025, before a joint practice with the Green Bay Packers during training camp at Grand Park in Westfield.
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Oct 19, 2025; Glendale, Arizona, USA; Green Bay Packers defensive lineman Colby Wooden (96) against the Arizona Cardinals at State Farm Stadium. Mandatory Credit: Mark J. Rebilas-Imagn Images
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Miami Dolphins safety Dante Trader Jr. (11) brings down Indianapolis Colts running back DJ Giddens (21) during the second half of a game Sunday, Sept. 7, 2025, at Lucas Oil Stadium in Indianapolis. The Colts defeated the Dolphins 33-8.
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Indianapolis Colts guard Dalton Tucker (68) gets a drink of water Thursday, July 24, 2025, during training camp held at Grand Park in Westfield.
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Indianapolis Colts tight end Sean McKeon.
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Aug 9, 2025; Orchard Park, New York, USA; New York Giants center Jimmy Morrissey (67) warms up prior to the game against the Buffalo Bills at Highmark Stadium. Mandatory Credit: Gregory Fisher-Imagn Images
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Jan 4, 2026; Houston, Texas, USA; Indianapolis Colts quarterback Riley Leonard (15) throws downfield against the Houston Texans during the first half at NRG Stadium. Mandatory Credit: Troy Taormina-Imagn Images
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Indianapolis Colts cornerback Johnathan Edwards (35) reacts after breaking up a pass Saturday, Aug. 23, 2025, during a game against the Cincinnati Bengals at Paycor Stadium in Cincinnati.
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Indianapolis Colts linebacker Austin Ajiake (58) wraps up Houston Texans wide receiver Jaylin Noel (14) on Sunday, Nov. 30, 2025, during a game at Lucas Oil Stadium in Indianapolis.
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Aug 16, 2025; Indianapolis, Indiana, USA; Indianapolis Colts defensive end Durell Nchami (74) hits Green Bay Packers quarterback Taylor Elgersma (19) as he throws during the first half at Lucas Oil Stadium. Mandatory Credit: Robert Goddin-Imagn Images
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Aug 9, 2025; Tampa, Florida, USA; Tampa Bay Buccaneers linebacker John Bullock (57) looks on after a preseason game against the Tennessee Titans at Raymond James Stadium. Mandatory Credit: Nathan Ray Seebeck-Imagn Images
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BALTIMORE, MARYLAND – AUGUST 07: Cornerback Reuben Lowery #30 of the Baltimore Ravens in action during the NFL Preseason 2025 game between Indianapolis Colts and Baltimore Ravens at M&T Bank Stadium on August 7, 2025 in Baltimore, Maryland. (Photo by Patrick Smith/Getty Images)
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Indianapolis Colts safety Trey Washington (41) catches the ball Thursday, July 31, 2025, during Colts Training Camp at Grand Park in Westfield.
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Aug 16, 2025; Indianapolis, Indiana, USA; Indianapolis Colts safety Hunter Wohler (30) catches a pass during warmups prior to the game against the Green Bay Packers at Lucas Oil Stadium. Mandatory Credit: Robert Goddin-Imagn Images
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Aug 6, 2025; Foxborough, MA, USA; Washington Commanders safety Ben Nikkel (48) stretches at training camp at Gillette Stadium. Mandatory Credit: Eric Canha-Imagn Images
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Bayron Matos, from the Dominican Republic, is practicing with the Miami Dolphins as an offensive tackle.
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Indianapolis Colts offensive tackle Jack Wilson (76) on Wednesday, July 23, 2025, during the first day of training camp held at Grand Park in Westfield.
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Indianapolis Colts player Tim Smith (93) stretches during training Camp at Grand Park on Saturday, July 26, 2025, in Westfield, Ind.
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Indianapolis Colts running back Ulysses Bentley IV (37) dances after scoring a touchdown Saturday, Aug. 23, 2025, during a game against the Cincinnati Bengals at Paycor Stadium in Cincinnati.
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Indianapolis Colts wide receiver Coleman Owen (3) rushes the ball Saturday, Aug. 23, 2025, during a game against the Cincinnati Bengals at Paycor Stadium in Cincinnati.
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Aug 23, 2025; Miami Gardens, Florida, USA; Jacksonville Jaguars quarterback Seth Henigan (19) walks toward the sideline against the Miami Dolphins during the fourth quarter at Hard Rock Stadium. Mandatory Credit: Sam Navarro-Imagn Images
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Indianapolis Colts linebacker Joseph Vaughn (49) works to bring down Cincinnati Bengals running back Quali Conley (40) on Saturday, Aug. 23, 2025, during a game against the Cincinnati Bengals at Paycor Stadium in Cincinnati.
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Dec 30, 2023; Tucson, AZ, USA; Wyoming Cowboys safety Wyett Ekeler (31) against the Toledo Rockets during the Arizona Bowl at Arizona Stadium. Mandatory Credit: Mark J. Rebilas-USA TODAY Sports
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Tennessee Titans linebacker Arden Key (49) is congratulated after sacking New England Patriots quarterback Drake Maye (10) during their game at Nissan Stadium in Nashville, Tenn., Sunday, Nov. 3, 2024.
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EAST RUTHERFORD, NEW JERSEY – SEPTEMBER 11: Defensive end Micheal Clemons #72 of the New York Jets warms up before the NFL game against the Buffalo Bills at MetLife Stadium on September 11, 2023 in East Rutherford, New Jersey. (Photo by Elsa/Getty Images)
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Alec Pierce #14 of the Indianapolis Colts scores a touchdown in the first quarter against the Jacksonville Jaguars at Lucas Oil Stadium on January 05, 2025 in Indianapolis, Indiana.
From Pierce’s standpoint, the money headed into his bank account is roughly the same. Pierce’s $26 million signing bonus is paid in 2026, and coupled with his $4 million base salary, he gets $30 million in the first year of the deal.
Pierce also gets $30 million in the second year of his contract, but it is paid out in base salary, raising his cap hit in 2027 to $35.2 million. The first two base salaries of his contract are fully guaranteed at the time of signing.
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The wide receiver’s base salary in 2028 is $27 million. If Pierce is on the roster on the fifth day of the 2027 league year, $14 million of that salary becomes fully guaranteed, and an additional $10 million becomes fully guaranteed on the fifth day of the 2028 league year.
That $24 million in 2028 is already guaranteed for injury; it becomes fully guaranteed on those dates. Pierce’s base salary in 2029 is $25 million, and he has a $2 million roster bonus that is payable on the fifth day of the league year.
Then the contract automatically voids, meaning the final $5.2 million in prorated signing bonus becomes dead money in 2030 if Pierce is not extended. If the Colts still have Pierce on the roster, they can erase the void year in an extension or a restructure at a later date.
With a low cap hit in 2026, Indianapolis still likely has a significant amount of cap space available in 2026, although the exact amount is dependent on the structure of the contracts the Colts have paid to Alec Pierce and other free agents.
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Alec Pierce’s contract
Signing bonus: $26M
2026: $4 million base salary (fully guaranteed), $9.2 million salary-cap hit
2027: $30 million base salary (fully guaranteed), $35.2 million cap hit
2028: $27 million base salary ($24 million guaranteed for injury at signing; $14 million becomes fully guaranteed on fifth day of 2027 league year,
2029: $25 million base salary, $2 million roster bonus
2030: Contract automatically voids, $5.2 million cap hit
This article originally appeared on Indianapolis Star: Alec Pierce’s megadeal structured to give Colts extra cap space in 2026