Packers’ chances of extending Christian Watson may have taken a hit after major free agent news reshaped the market

Alec Pierce’s deal with the Colts is a solid parameter for what Watson could eventually get.

Wendell Ferreira NFL News Writer
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Green Bay Packers wide receiver Christian Watson (9) makes a catch for a first down during the second quarter of their wild card playoff game against the Chicago Bears Saturday, January 10, 2026 at Soldier Field in Chicago, Illinois.
Mark Hoffman/Milwaukee Journal Sentinel / USA TODAY NETWORK via Imagn Images

The Green Bay Packers should be pretty happy they gave Christian Watson a short-term extension a year ago. They should be concerned if the plan is to extend him again this offseason.

Right in the first few minutes of the two-day negotiating window ahead of free agency, the Indianapolis Colts re-signed Alec Pierce on a four-year, $114 million contract — $28.5 million a year.

Why it matters for Christian Watson

In September, the Packers gave Watson a one-year, $11 million extension coming back from a torn ACL. It ended up being a team-friendly deal, and Watson easily outperformed the expectations. In 10 games, he had 35 receptions for 611 yards and six touchdowns, the most efficient and consistent year of his NFL career.

Pierce and Watson are players from a similar style; big-bodied, deep threat receivers. Pierce was slightly healthier and therefore more productive throughout their rookie contracts, but it’s not a big difference.

While Pierce had 2,934 yards and 17 touchdowns, Watson had 2,264 yards and 20 touchdowns. Pierce is also coming off a career year, with 1,003 yards in 2025.

Presumably, Pierce’s contract — which has a max value of $116 million, $60 million fully guaranteed, and $84 million in total guarantees, sets the ceiling for what Watson can command.

But if the Packers want to extend Watson, the yearly average won’t be much lower. The good part for the Packers is that Watson is already under contract for 2026 and is set to make $5.75 million.

Let’s say he signs a four-year, $100 million extension ($25 million per year in new money). In actuality, it would be a five-year, $105.75 million deal, dropping his yearly average to $21.15 million. That’s the advantage of making deals ahead of time.

WR situation

The Packers are expected to lose Romeo Doubs in free agency. Watson, Jayden Reed, and Dontayvion Wicks are all entering contract years. That’s also the case for Jakobie Keeney-James, Isaiah Neyor, and Will Sheppard, even though they would be exclusive-rights free agents.

That means the roster only has Matthew Golden and Savion Williams with contracts beyond 2026, making a potential extension for Watson more relevant.

Christian Watson is a big part of the offense, and it becomes much more explosive with him on the field. But getting an extension didn’t get any easier after the start of free agency.