Alec Pierce's ankle situation looks like it's trending in the right direction, with multiple reports indicating he's close to a practice return for the Colts. That's a mildly encouraging sign after a stretch dealing with a nagging ankle injury, but it's worth noting he hasn't actually practiced yet as of these reports — he's still on the recovery side of the ledger rather than a fully cleared, full-participation piece of the offense.

For fantasy purposes heading into draft prep, treat this as a modest yellow flag rather than a red one. Pierce profiles as a boom-or-bust deep-threat complementary receiver in Indianapolis's offense, and any lingering lower-body issue during camp can affect his conditioning, route-running sharpness, and his ability to build early rapport with the quarterback before the season starts. If he's limited or eased back in gradually, his summer reps could lag behind other Colts pass-catchers competing for target share, which matters for a player who already needs volume to be fantasy-relevant.

Actionable takeaway: don't panic, but don't reach for him early either. Keep Pierce as a late-round or bench-stash candidate in drafts rather than someone you're banking on for a set role — his draft-day price should reflect some risk discount until he's confirmed to be practicing fully and without limitations. Monitor camp reports closely over the next couple of weeks; if he returns to full practice with no setbacks, his outlook stabilizes and he becomes a fine speculative flier. If the ankle lingers or he's held out further, downgrade him and prioritize other depth options at the receiver position. Confidence here is moderate given the hedged, "may return" language across all four sources.