Colts’ Bold Offseason Moves Leave Executives Scratching Their Heads

The Indianapolis Colts have had a puzzling start to their 2026 campaign, making a series of critical roster decisions regarding their offensive skill positions that many around the league believe could backfire. 

The franchise has not maximized the available transactional tools available to them, in the estimation of executives with several other NFL teams, and could have better allocated resources at the quarterback and wide receiver spot.

The Colts opted to use a transition tag on injured quarterback Daniel Jones, rather than place it on receiver Alec Pierce. The team then signed Pierce, who has had an up and down start to his career as an emerging deep threat, but rather than secure the rights to sign him to an extension through July with a franchise or transition tag, the Colts instead signed him to a massive four-year deal including $60M full guaranteed. 

With Pierce getting a huge raise they then opted to jettison top possession receiver Michael Pittman for what amounts to a sixth-round pick to Pittsburgh, who quickly signed him to an extension.

All of it, in its totality, struck other personnel executives as an awkward way to sustain if not upgrade an offense that will have to be the strength of the team in what has become a much more competitive AFC South.

What’s the reaction to the Colts wheeling and dealing?

“I don’t get it at all,” said one long-time NFL personnel executive whose team has also been active in the market for free agents on the offensive side of the ball. 

“I can’t figure out what (general manager) Chris (Ballard) is doing. It doesn’t add up for me. He could have signed the quarterback at his price, without the tag, put the tag on Pierce and kept Pittman and saved a lot of money. Pierce doesn’t have as much leverage if he’s on the tag and he probably takes what you have on the table after the draft. I think they’d made some big mistakes.”

Another NFL executive said: “I don’t like what the Colts and Titans are doing. That really stands out to me. I like Chris a lot and respect him as an evaluator, but that thing looks like it’s running it course there, unfortunately. I think he really wanted to keep Pierce because he played with (Colts top corner and big in-season trade acquisition) Sauce Gardner in college (at Ohio State), and that’s his boy.”

The Colts seemed convinced that Jones, despite years of shaky production and returning from season-ending surgery, had a robust market but that’s not the sentiment of multiple execs from other teams very much in the quarterback market.  

“It came down to fear that he wouldn’t have a quarterback he’s comfortable with, it’s that simple,” a third NFL executive said. “But it’s hard to operate a winning team that way.”

The trickle-down impact meant no tag to place on Pierce and Pittman’s departure leaves a void; even in a down season he led the Colts with 80 receptions and seven receiving.