The San Francisco 49ers knew they had to make some serious investments in their wide receiver room this offseason in light of finally parting ways with Brandon Aiyuk and also (likely) losing Jauan Jennings to free agency.
So, it wasn't overly shocking to see the Niners linked to a handful of wideouts leading up to the start of the negotiation window ahead of the league new year.
Including Indianapolis Colts wide receiver Alec Pierce.
San Francisco was reportedly honing in on Pierce with mere hours to go before the start of the negotiation window with pending free agents, and it wouldn't have been a shocker to see general manager John Lynch strike an offer when the window fully opened.
That said, Indy made a successful (and sizable) effort to deny that possibility.
Colts' new deal keeps Alec Pierce away from 49ers' grasp
According to The Pat McAfee Show, and shared by ESPN's Adam Schefter, Indianapolis reached an agreement with Pierce for four years and up to $116 million:
Indy lands its top target: Free-agent WR Alec Pierce is returning to the Colts with a four-year, $116 million deal, per @PatMcAfeeShow. pic.twitter.com/TZHic7iw9t
— Adam Schefter (@AdamSchefter) March 9, 2026
So much for the 49ers landing him now.
With Aiyuk and Jennings all but gone, the Niners effectively had two-year pro Ricky Pearsall and journeyman veteran Demarcus Robinson as the lone proven options signed into 2026. Behind those two, the likes of Jacob Cowing and Jordan Watkins haven't exactly solidified their NFL careers to date.
Pierce, who recorded his first 1,000-yard season in 2025 with Indy and landed at No. 5 on FanSided's top 110 free agents, isn't just a one-hit wonder either. The 2022 Round 2 draft pick out of Cincinnati led the league in yards per reception in each of the last two seasons, tallying a combined 13 touchdown grabs over that span.
Read more: 49ers free agency tracker 2026: Signings, departures, latest news and more
And that's with a flurry of different quarterbacks trying to get him the ball, too.
Pierce's deep-threat abilities would have been a massive boost to San Francisco's offense surrounding quarterback Brock Purdy, particularly with Aiyuk on his way out the door.
Instead, the 49ers will be pressed to fall back on other options, likely on the free-agent market but potentially pivoting to a deep class of receivers in the upcoming NFL Draft this April.