Alec Pierce just secured the bag with a $116 million extension, signaling the Colts are all-in on his X-receiver transition and creating yet more dynasty heat. Meanwhile, Josh Downs is fighting to reclaim his relevance after a disappointing 2025 where he was out-targeted by a tight end, but the recent drumbeat of positive reports suggests a bounce-back as the primary short-area chain mover is imminent.

In dynasty formats, Pierce is now being valued as a high-ceiling alpha play, and this offseason is the time to sell. Downs, on the other hand, remains a savvy buy low PPR value whose current dynasty price tag ignores his path to becoming the team’s high-volume intermediate engine.