Free agency has already proven Brad Holmes right with two extensions

The legal tampering period is underway in NFL free agency, and arguably the top wide receiver on the market has cashed in with a major deal.

Per Tom Pelissero and Ian Rapoport, Alec Pierce is staying in Indianapolis, signing a monster four-year, $114 million deal with the Colts.

The deal is the highest ever signed by a free agent wide receiver, and makes Pierce the ninth highest paid at his position league wide, and 12th in yearly value.

The Athletic's Dianna Russini adds that Pierce garnered interest from the New England Patriots, Las Vegas Raiders, Los Angeles Chargers, and San Francisco 49ers. However, she reports that Pierce actually took less money to stay with the Colts.

The Colts drafted Pierce in the second round of the 2022 NFL Draft and have watched him blossom into one of the league's best deep threats after leading the league in yards per reception in back-to-back years.

In 2025, Pierce achieved his first 1,000-yard receiving season, clocking in at 1,003 receiving yards to go along with six touchdown receptions. The Colts expect those numbers to keep growing for their franchise cornerstone, and he'll be in a great position to do just that now that they've traded Michael Pittman Jr. to the Pittsburgh Steelers.

Lions' WR extensions are looking better and better

To put into perspective the Pierce deal, his $28.5 million a year deal is $1.5 million short of Amon-Ra St. Brown's $30 million a year deal signed in 2024. It's also roughly a million higher than theextension Jameson Williams signed last year, with an additional year.

Williams is an interesting comparison point to Pierce, as Williams was also a member of the 2022 draft class, taken in the first round. Williams had a shaky start to his career, coming back from an ACL injury and a multi-game suspension. Williams has since come into his own these past two seasons, with back-to-back 1,000-yard and seven TD seasons.

Williams had a strong finish to his 2025 after being woefully underutilized during the John Morton play-calling era, averaging 84.7 yards per game in the final nine games. Take away his zero-reception game in the overtime thriller against the New York Giants, and that number jumps to 95.25.

For the season as a whole, Williams averaged 65.7 yards per game, just short of Pierce's 66.9, on 18 more targets and receptions.

READ MORE: Lions' future hangs in the balance as clock ticks toward must-know offseason date

The Pierce signing underscores the importance of signing extensions early. The WR market is currently blowing up, with guys like Pierce signing deals that top guys like St. Brown signed just two years ago. If Williams were a free agent right now, he likely would've commanded a similar deal, if not more, which the team might've balked at.

The Lions may eventually need to deal with either WR asking for a new deal amid the inflating WR value, but until then, both St. Brown and Williams deals look like major steals for the money-tight Lions.