Stampede Blue

Indianapolis Colts WR Alec Pierce received a second PRP injection in his rehabbing left ankle this offseason following minor cleanup surgery in March. While the team source indicated the second injection was not considered a setback, there remains no clear timetable for his return to the field. Pierce initially indicated a four-to-six month recovery timeline from late March surgery, with hope for late training camp return. However, ESPN NFL Insider Adam Schefter reported on The Pat McAfee Show that the Colts maintain Pierce will be ready for the regular season opener. The injury status is particularly significant given Pierce's recent 4-year, $114 million contract ($84 million guaranteed) and the Colts' weakened WR corps following Michael Pittman Jr.'s trade to Pittsburgh.

Listed as both the top kick returner and punt returner on the Colts' depth chart, giving him a clear early path to roster value even if his offensive role remains uncertain.

Listed as the third-string running back behind DJ Giddens on the Colts' depth chart, but has generated enough camp buzz that the backup competition should not be treated as settled; if he wins the No. 2 role, he could have a real weekly job given the Colts' stated desire to manage Jonathan Taylor's workload.

Listed as the backup running back ahead of Seth McGowan on the Colts' depth chart; getting the first nod makes sense based on experience and draft slot, though McGowan has generated enough camp buzz that the competition should not be treated as settled; whoever wins the No. 2 role could have a real weekly job given the Colts' stated desire to manage Jonathan Taylor's workload.

Listed as the starting running back on the Colts' depth chart; the Colts have indicated they want to manage his workload, making the backup running back role potentially valuable for weekly fantasy purposes.

Listed as the backup tight end on the Colts' depth chart behind Tyler Warren.

Listed as the top tight end on the Colts' depth chart, ahead of Mo Alie-Cox, Drew Ogletree and Will Mallory.

Listed as a starting receiver on the Colts' depth chart alongside Alec Pierce and Josh Downs.

Listed as a starting receiver on the Colts' depth chart alongside Alec Pierce and Ashton Dulin.

Listed as a starting receiver on the Colts' depth chart despite an ongoing ankle situation (listed as PUP); his status remains uncertain heading into the preseason.

Listed as co-No. 2 quarterback alongside Riley Leonard on the Colts' depth chart, competing for the backup job; will split reps with Leonard in Thursday's preseason game against New England while Daniel Jones rests.

Listed as co-No. 2 quarterback alongside Anthony Richardson Sr. on the Colts' depth chart, competing for the backup job; will split reps with Richardson in Thursday's preseason game against New England while Daniel Jones rests.

Listed as the starting quarterback on the Colts' first unofficial depth chart of 2026, though he is not expected to play in Thursday night's preseason opener against New England; Shane Steichen's plan is for Riley Leonard and Anthony Richardson Sr. to split reps in that game.

Pierce underwent ankle surgery in March after playing through the injury last season. Chris Ballard initially indicated a three-month recovery timeline pointing to a training camp return, and Shane Steichen said the team expected him back "at some point in training camp." However, the timeline has become unclear: Pierce opened camp on the active/PUP list, Ballard later said he was "a week or two away" from returning near the start of camp, yet Steichen this week stated "No, not right now" when asked about a timetable. The Colts organization has a history of vague injury communication (Andrew Luck, Shaq Leonard's back issue leading to a lost season), which compounds fan concern. The sequence of conflicting messaging—surgery in March, optimistic initial timeline, PUP list, recent "close" report, now no timetable—is not reassuring. With Michael Pittman Jr. gone, Pierce is a key piece in the passing game whose vertical ability impacts defensive schemes; losing practice reps during his rehab with no clear return date hampers the Colts' passing game development with Daniel Jones rebuilding timing.

Backup QB Anthony Richardson will rotate with Riley Leonard in Thursday's preseason opener; has shown inconsistency throughout training camp and has not clearly separated from Leonard in the QB2 competition; is a free agent at year-end with a trade request already submitted, meaning the Colts' default business logic favors Leonard's development over Richardson's, and Richardson must excel across training camp, preseason, and off-field work to win the QB2 job.

Backup QB Riley Leonard will rotate with Anthony Richardson in Thursday's preseason opener against the Patriots; under team control through 2028 on his rookie contract, positioning him as the likely default winner of the QB2 job if Richardson doesn't clearly separate himself across training camp, preseason, and off-field work—especially given Richardson's free-agent status at year-end and trade request.

Colts starting quarterback Daniel Jones, recovering from a torn Achilles suffered last year, has shown no signs of the injury during team training camp; will not play in Preseason Week 1 against the Patriots, especially given the newly installed turf at Gillette Stadium.

Wide receiver Josh Downs was out of Colts training camp, indicating he was unavailable or absent during the early August practice sessions.

Anthony Richardson threw an accurate deep pass to a rookie wide receiver during training camp, demonstrating arm strength and connection with pass catchers in early August drills.

Rookie running back Seth McGowan continued to flash during Colts training camp, showing repeated positive performance in drills and earning repeated mentions from camp observers.

Daniel Jones experienced a turnover-filled morning practice session during Colts training camp, indicating ball security and decision-making concerns during early August drills.

Riley Leonard is favored over Anthony Richardson for the QB2 role behind Daniel Jones; Leonard is under contract through 2028, whereas Richardson is a free agent at year-end and will not re-sign with the Colts. Despite having only one career start, Leonard has held his own against Richardson in training camp competition, making him the logical choice for Indianapolis both now and going forward.

Richardson's passing accuracy remains a critical deficiency; a freak medical band accident during pre-game work in Week 6 last season caused him to miss the remaining 2025 season, and vision concerns from that incident may not have fully recovered yet, as evidenced by trouble handling snaps in training camp.

Ian Rapoport reports he wouldn't be surprised if Richardson has played his last down with the Colts; competing for QB2 role behind starter Daniel Jones but has failed to separate himself from 2nd-year backup Riley Leonard in training camp. Richardson's trade value is low despite an active trade request, and vision concerns from a medical band incident during pre-game work last season may not have fully recovered, further torpedoing his trade prospects.

Wide receiver Josh Downs is out with a groin injury, affecting his availability and fantasy relevance during training camp.

Anthony Richardson had a rocky showing at training camp on Saturday, though there has been no official demotion announced. The performance raises questions about his depth chart standing and role security despite the lack of formal roster moves.

The backup QB received fewer reps than Riley Leonard in the backup QB competition. Richardson's work was more limited after he received just two plays in the initial red zone team period with the third unit. Rob Carter Jr. later jumped a curl route near the pylon to pick off Anthony Richardson on his first throw with the second-team offense, indicating early struggles in the backup competition.

The backup QB received more reps than Anthony Richardson amid the battle for backup QB duties. Leonard opened his first team session with an impressive pass down the sideline to receiver Coleman Owen, who had created separation from linebacker Jaylon Carlies. Leonard later layered a pass over the reach of cornerback Rob Carter Jr. and into the hands of tight end Will Mallory for a 10-yard gain to drop the sticks for goal-to-go. Since only the second-team went out for one final two-minute drill, Leonard commanded the offense to midfield and completed three passes outside the numbers to pass catchers Eli Pancol, Will Mallory and Coleman Owen, though the second-unit stalled after moving the ball into opposing territory.

Ashton Dulin participated in Colts minicamp drills with section title 'Ashton Dulin Does It Again!' indicating repeated positive receiver performance and consistent standout play.

Nick Westbrook-Ikhine participated in Colts OTA drills with section title 'Nick Westbrook-'Machine'' suggesting consistent positive performance and reliable receiver status in the offense.

Anthony Richardson participated in training camp at Grand Park, with section title 'Richardson "Rollercoaster" Run at QB2' indicating variable performance evaluation at the backup quarterback position during the preseason.

Daniel Jones participated in the Colts' first night practice of training camp, demonstrating active involvement in the team's quarterback rotation during the preseason slate.

Team owner Carlie Irsay-Gordon announced a new contract extension for Taylor during the first night practice of training camp, signaling long-term roster commitment and security in his role with the Colts.

A full-strength Daniel Jones will be the key to unlocking Jonathan Taylor's full potential. The source argues that if Jones provides offensive balance, Taylor will shine yet again, suggesting Taylor's fantasy upside is tied to quarterback health and offensive scheme support.

Jonathan Taylor signed a two-year, $44 million extension with the Colts, securing his role as the franchise's rushing leader. The source notes that Taylor has produced over 3,000 yards and 29 touchdowns over the last two seasons, establishing himself as one of the best players in the league and the franchise leader in rushing touchdowns. The source states he is worth the contract now based on historical performance, though future production remains uncertain.

Quarterback Anthony Richardson Sr.'s turbulent training camp continued with persistent ball security issues. The fourth-year quarterback again struggled with ball security, dropping another snap with the second unit, and was later picked off after forcing a throw over the middle that sailed high.

Quarterback Daniel Jones continued his impressive stretch of camp, looking more comfortable while operating the offense both inside and outside the pocket. He orchestrated the run-pass-option scheme effectively, using play-action to throw dig routes and post routes to receivers, escaped pressure to deliver a 25-yard strike to Ashton Dulin up the seam, threw a perfectly placed wheel route 30 yards downfield to tight end Tyler Warren between two defenders, and capped the night with a laser touchdown pass to Dulin in the back of the end zone.

Running back Jonathan Taylor agreed to a two-year, $44 million contract extension, securing his role with the Colts through the near term. For the third consecutive practice, Taylor took a slip screen the distance for what would have been another explosive touchdown; by design and perfect execution, the Colts have repeatedly found ways to get the ball to their All-Pro running back into open space during camp.

Tyler Warren is positioned as a major piece at tight end in the Colts passing game. The source indicates Warren may become the most dangerous matchup piece in the offense, but his presence does not prevent Downs' target-share growth; instead, the two complement each other in a diversified passing attack where Downs handles underneath/intermediate work and Warren provides matchup versatility.

Jonathan Taylor remains the foundation of the Colts offense. The source notes "This offense still begins with Jonathan Taylor," establishing that while Downs' role is expanding in the passing game, Taylor anchors the overall offensive identity and will continue to be the primary focal point.