Alec Pierce

Alec Pierce enters 2026 as one of the more interesting fantasy names to track because the Colts clearly believe in him, but his availability is still the big story. He signed a four-year, $114 million extension this summer, which signals a major role in Indianapolis, and recent reporting says the Colts expect him to be ready for Week 1 after offseason ankle surgery, even though he spent the start of camp on the PUP list.

The injury matters because it has already slowed his summer. Pierce had a left ankle cleanup procedure in March after dealing with discomfort that dated back to 2024, and multiple reports noted a recovery window that could push into training camp and even the preseason. The latest updates have been more encouraging, with Shane Steichen saying Pierce is in a great spot and Chris Ballard still viewing him as on track for the opener, but fantasy managers should still treat him as a player whose early-season usage could ramp up gradually.

From a fantasy perspective, the opportunity looks better than it did a year ago. Recent notes indicate Michael Pittman Jr. is gone, leaving Pierce as Indianapolis’ top wide receiver heading into 2026, though Josh Downs and tight end Tyler Warren still create target competition. That puts Pierce in a strong position to lead the team in explosive plays and downfield production, which has always been his calling card, but it also means his weekly ceiling may depend more on big gains than on high-volume receptions.

For fantasy drafts, Pierce profiles as a useful upside WR3/flex with a bit of injury-related risk baked in. If he’s fully healthy by Week 1, the combination of a clear starting role, a new contract, and a likely deep-threat workload makes him worth targeting, especially in best ball or deeper leagues. The safest approach is to draft him with optimism, but leave room for a slower start than the headline suggests because the ankle situation is still the main variable shaping his 2026 season.