NFL free agency started in a big way on Monday, with the Colts re-signing wide receiver Alec Pierce just moments after noon ET.
The deal sent shock waves through the league. Pierce had 47 catches for 1,003 yards last season for the Colts, both of which are career highs. That got him $116 million over four years, with a reported $60 million of that guaranteed. It’s essentially a two-year contract for the Colts, and if it goes well, Pierce will likely see the deal through all four years if the salary cap continues to increase.
In recent years, an annual salary of $30 million became the barometer for the best receivers in the NFL. The elite players got even more, with Ja’Marr Chase getting more than $40 million annually from the Bengals last offseason.
Pierce came up just shy of that, but his production pales in comparison to top receivers who now make less than him. For reference, Pierce is set to make more money than Tee Higgins, Jaylen Waddle, DeVonta Smith, Nico Collins and former teammate Michael Pittman Jr., who was traded to the Steelers on Monday.
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Pittman being traded to Pittsburgh means Pierce’s role will likely increase in the Colts’ offense next season. Quarterback Daniel Jones was given the transition tag, while the star of the show will still be running back Jonathan Taylor.
As of Monday, March 9, at 2:30 p.m. ET, here are the highest annual salaries among NFL wide receivers, including Pierce’s reported contract with the Colts (data courtesy of Over the Cap):
| Player | Annual Avg. | Total Value |
| Ja’Marr Chase | $40.25 million | $161 million |
| Justin Jefferson | $35 million | $140 million |
| CeeDee Lamb | $34 million | $136 million |
| DK Metcalf | $33 million | $132 million |
| Garrett Wilson | $32.5 million | $130 million |
| A.J. Brown | $32 million | $96 million |
| Amon-Ra St. Brown | $30 million | $120 million |
| Brandon Aiyuk | $30 million | $120 million |
| Alec Pierce | $29 million | $116 million |
| Terry McLaurin | $29 million | $87 million |
| Tee Higgins | $28.75 million | $115 million |
| Jaylen Waddle | $28.25 million | $84.75 million |
| D.J. Moore | $27.5 million | $110 million |
| George Pickens | $27.3 million | $27.3 million |
| Jameson Williams | $26.7 million | $80 million |
| DeVonta Smith | $25 million | $75 million |
| Nico Collins | $24.25 million | $72.75 million |
| Michael Pittman Jr. | $23.3 million | $70 million |
| Courtland Sutton | $23 million | $92 million |
| Calvin Ridley | $23 million | $92 million |
