Josh Allen
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MIAMI GARDENS, FLORIDA - NOVEMBER 09: Josh Allen #17 of the Buffalo Bills looks on during warmups before the game against the Miami Dolphins at Hard Rock Stadium on November 09, 2025 in Miami Gardens, Florida. (Photo by Rich Storry/Getty Images)
It’s no great secret that the Buffalo Bills are in the market for an upgrade at wide receiver. Outside of slot stud Khalil Shakir, the Bills are woefully lacking in playmakers at that position. Aside from Shakir — who led the team in receiving yards with 719 — no Buffalo wide receiver had more than 404 receiving yards or more than 38 receptions. If the Bills are going to compete for a Super Bowl again, that has to change.
The top wide receiver on the free agent market and a player frequently connected to the Bills is Colts WR Alec Pierce. A former second-round pick out of Cincinnati, Pierce is one of the best deep threats in the league, leading the NFL in yards per receptions in each of the last two years. He developed into a much more well-rounded receiver in 2025, as well, posting 47 receptions for 1,003 yards and six touchdowns.
ESPN Insider Drops Disappointing Update on the Buffalo Bills’ Pursuit of WR Alec Pierce
Alec Pierce
GettyEAST RUTHERFORD, NEW JERSEY – DECEMBER 29: Alec Pierce #14 of the Indianapolis Colts catches a touchdown pass during the fourth quarter against the New York Giants at MetLife Stadium on December 29, 2024 in East Rutherford, New Jersey. (Photo by Ed Mulholland/Getty Images)
The Colts are currently facing a tough decision regarding Pierce. And that could open the door for the Bills — and other teams — to pursue the top wide receiver on the market. According to ESPN’s Jeremy Fowler, the Colts informed Pierce that they intend to keep him and sign him to extension. They want to make him a cornerstone of their offense moving forward.
But it’s not that simple, as the Colts also need to find a way to keep starting QB Daniel Jones. After signing a one-year deal last offseason, winning the starting job, and leading a scintillating offense for the first half of the season, Jones fractured his tibia and tore his Achilles. His market is complicated, but the Colts want him back.
Thing is, the Colts can only use the franchise tag once. And if they use it on Jones, Pierce could hit the open market, and the Bills could go after him.
“Pierce has a good relationship with Jones,” Fowler wrote on Sunday. “If the team tags Pierce but doesn’t reach a deal with Jones, for example, that could be an issue for Pierce. Conversely, tagging Jones ensures he will be there in 2026, a move that would appeal to Pierce.”
“A franchise tag for Pierce would come in around $27 million, while Jones would get $43.9 million on the franchise tag and $37.8 million on the transition [tag],” Fowler continued. “Those numbers are steep but reasonable. The Colts haven’t tipped their hand in a possible direction. Pierce would command a massive contract if he hit free agency. In November, we reported his market could hit $20 million. Think higher now.”
What Does This Mean for the Buffalo Bills’ Pursuit of Colts WR Alec Pierce?
Earlier in the week, Bills GM Brandon Beane appeared on The Pat McAfee Show and said that Buffalo has some cap balancing work to do to fit everyone into their budget for 2026. Between extensions, restructures, and some bargain shopping, the Bills can make it all work.
But with Pierce’s market ballooning currently, it doesn’t bode well for the Bills’ chances of signing him. Fowler agrees.
“Alec Pierce will most likely be out of [the Bills’] price range,” he wrote.