Indianapolis Colts wide receiver Alec Pierce signed a four-year, $114 million deal in March, the richest free-agent contract for a receiver in NFL history. Trevor Ruszkowski / Imagn ImagesAug. 27, 2026 Updated 11:06 am EDTINDIANAPOLIS — The Indianapolis Colts are taking Alec Pierce off the physically unable to perform list Thursday and expect the wide receiver to practice this afternoon, according to league sources who were not permitted to speak publicly. If Pierce practices Thursday, it will mark the first time he will have participated in an on-field team activity since undergoing left ankle and heel surgery in late March. While on the PUP list, Pierce has missed all of training camp amid his monthslong rehab.Pierce initially tried to avoid surgery at the end of last season, opting for a platelet-rich plasma injection instead. However, when that injection didn’t alleviate the discomfort Pierce felt, which he said he’d been managing since the 2024 season, he eventually moved forward with a procedure. Pierce revealed in June that he faced a four- to six-month recovery timeline that could threaten his availability for the start of the season.Indianapolis Colts Camp: Daniel Jones, Alec Pierce and moreRobert MaysNow, less than a month away from Week 1, Pierce is on track to be on the field when the Colts host the Baltimore Ravens. The fifth-year pro signed a four-year, $114 million deal in March, the richest free-agent contract for a receiver in NFL history. Pierce, who is the 15th-highest-paid wideout annually, has led the NFL in yards per reception in each of the past two years (22.3 in 2024 and 21.3 in 2025).Pierce is poised to take over as Indy’s No. 1 receiver after the team traded veteran Michael Pittman Jr. to the Pittsburgh Steelers in March. Pittman led the Colts in catches in four of the past five years. In Pittman’s absence, the Colts’ starting receiver trio will consist of Pierce, Josh Downs and, most likely, Keenan Allen. Allen, a six-time Pro Bowler, reached a one-year agreement with the Colts last week.The 34-year-old is one of 18 players in NFL history to reach 1,000 receptions; he’s also recorded at least 65 catches, 700 yards and four touchdowns in nine consecutive seasons.