EmailPrintOpen Extended ReactionsINDIANAPOLIS -- There were moments in recent weeks when the Indianapolis Colts were nowhere near completing their quest to retain their two best free agents.Neither quarterback Daniel Jones nor receiver Alec Pierce were close to a deal to return to Indianapolis, and time was running short as the free agency period quickly approached.Stakes were high, as the Colts had made retaining the pair the centerpiece of their offseason strategy.In the end, after some stressful moments, the Colts got the job done.Pierce agreed to a four-year, $116 million extension Monday, just as free agent negotiations were kicking off around the league. And on Wednesday, hours before the signing period opened, the Colts agreed to terms with Jones on a two-year, $88 million extension.This has been an eventful week at Colts headquarters, and it's not over yet. Here's how it all played out, according to numerous team and league sources.On March 3, hours before the deadline to apply the franchise or transition tag on impending free agents, the Colts faced their first big dilemma. The team had discussed options involving Pierce and Jones, but at the time, Jones' negotiations were stalled and far apart.Desperate not to repeat its seemingly yearly quarterback carousel, Indy applied the transition tag to Jones, giving it the right to match any competing offer. But it left Pierce, the top wideout available in free agency, unprotected and free to sign with any suitor.As negotiations with Jones continued in the background, talks with Pierce began to take priority. Entering last weekend, with free agent negotiations scheduled to begin Monday, the situation was trending toward Pierce hitting the market. The player had already said in an interview that he preferred to see what the market would bear, and the Colts were largely powerless to stop him.But all along, the Colts remained steadfast."[My agents] kept telling me, they said 'We're not going to let you get out of Indy,'" Pierce said Wednesday. " 'We want you to be a Colt.' So, I knew they wanted me here and I wanted to be here."But Pierce also was adamant that he wanted Jones onboard before he signed. Jones' status actually became a sticking point in the negotiations. It's why Pierce consulted with Colts general manager Chris Ballard before gaining confidence that Jones would be retained. Privately, the Colts never worried things might fall apart with Jones. A source told ESPN on Monday, "He will be a Colt."By late Sunday and into Monday morning, the Colts and Pierce's representatives reengaged and emerged with a deal. About 48 hours later, with the opening of the signing period looming, the Colts struck a deal with Jones.Just how determined were the Colts were to move forward with the pair? After agreeing to terms with Pierce, the Colts traded veteran receiver Michael Pittman Jr. to the Pittsburgh Steelers for a late-round pick swap, creating the necessary salary cap space to make the deal. The Colts are doubling down on the idea that they can duplicate their early-season success from 2025, when they were the No. 1 offense in football in numerous categories. They are looking past the late-season failures that dropped them to 8-9 following Jones' injuries."I think we truly had something special going," Pierce said. "And I know we didn't finish the way we want to finish, but I think I'm able to look back to that and look at how we were playing and know we can be the best team in the NFL."But the highs of the week were offset by some lows for the Colts.The Pittman trade, while not shocking, was not something the front office enjoyed. He has been an integral part of the team's offense since he was drafted in 2020.Then came a gut punch.The Colts had engaged in talks this week with free agent defensive end Trey Hendrickson, a player in whom they were interested dating back to his preseason holdout in Cincinnati last year. Indianapolis made what it believed was a competitive offer to the four-time Pro Bowl selection and believed it was in the mix as of Tuesday afternoon.But then came news the Baltimore Ravens were backing out of an agreed-upon trade for Las Vegas Raiders defensive end Maxx Crosby, leaving Baltimore with a need for an edge rusher. The Ravens swooped in to sign Hendrickson with a four-year deal averaging $28 million (the Colts were around $25 million per year).There have also been notable departures for Indianapolis, with defensive end Kwity Paye headed to Las Vegas, linebacker Zaire Franklin going to Green Bay and safety Nick Cross signing with Washington. The Colts are looking for avenues to improve their pass rush but so far have added only rotational edge rushers Arden Key and Micheal Clemons.It all begs a question: Are the Colts, as of now, equipped to improve in 2026, when the jobs of Ballard and coach Shane Steichen are considered to be on the line?"I think [we're] certainly equipped," Jones said. "And we understand it starts over. You've got to prove it again, and we've got to build this team. And there's a lot of work that goes into that just like there was last year, and we've got to be able to consistently perform."So, we're confident because I think we've seen what we could be. But there's a high sense of urgency to get back to do that."And, with that, the Colts' week of wins and losses continues.
