The biggest free agency wide receiver came off the market within minutes of the opening of the tampering period, and now the Patriots have their work at wide receiver cut out for them.
According to ESPN's Adam Schefter and the Pat McAfee Show, 25-year-old Alec Pierce will return to the Indianapolis Colts, despite previously saying he was interested in testing free agency.
The deal is $116 million for four years.
Pierce, who tallied over 1,000 receiving yards last season, would have been a compelling fit in New England. His age and early production made him a rare commodity in free agency. He was largely a deep-ball threat with the Colts, which could have paired nicely with Drake Maye.
Reports last week indicated the Patriots are moving on from the only 1,000-yard receiver they've had this decade - 32-year-old Stefon Diggs - saving themselves more than $25 million in cap space. They also reportedly moved on from linebacker Jahlani Tavai, opening up further cap space.
The Patriots' first move in free agency was signing defensive end Dre'Mont Jones, per the Athletic's Dianna Russini. Jones had seven sacks in 2025, splitting time between Tennessee and Baltimore. He will sign in New England for three years, $39.5 million, according to Schefter.