The Indianapolis Colts have re-signed star wide receiver Alec Pierce to a four-year, $116 million contract while trading his former teammate Michael Pittman Jr. to the Pittsburgh Steelers. The move clears $24 million in salary cap space for Indianapolis and reshapes both teams' receiving corps heading into the 2026 season.

Pierce, who had his best season in 2025 with 1,003 receiving yards and a league-leading 21.3 yards per catch, was a key deep threat for the Colts' explosive offense. His ability to stretch defenses opened running lanes for Jonathan Taylor, making him indispensable to the team's offensive scheme. The 26-year-old becomes one of the NFL's highest-paid receivers.

Pittman, a 6-foot-4 target who caught 80 passes for 784 yards and seven touchdowns last season, joins the Steelers to pair with DK Metcalf. The trade represents a significant shift in Indianapolis' offensive identity, moving from a two-receiver attack to building around Pierce's elite deep-ball capabilities.