However, the Colts moved quickly to keep their deep threat in Indianapolis.
According to Diana Russini, Pierce has agreed to re-sign with the Colts, taking himself off the open market before free agency begins.
"Pierce turned down more money elsewhere to stay in Indy, per sources," Russini reported.
The 49ers are widely expected to explore options to strengthen a wide receiver group that could undergo significant changes this offseason. San Francisco is expected to move on from Brandon Aiyuk, while Jauan Jennings, Kendrick Bourne, and Skyy Moore are all slated to become free agents.
Additionally, the team's 2024 first-round pick, Ricky Pearsall, is coming off an injury-marred 2025 season, further underscoring the uncertainty around the position group.
Pierce would have provided a proven vertical threat for quarterback Brock Purdy. The Colts wideout led the NFL in yards per reception in back-to-back seasons, averaging 22.3 yards per catch in 2024 and 21.3 in 2025.
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