Indianapolis, IN
NFL Rumors: Michael Pittman Jr., Colts Agree to 3-Year Contract Worth Up to $71.5M
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Indianapolis Colts wide receiver Michael Pittman Jr. is staying put for the foreseeable future.
According to NFL insider Jordan Schultz, Pittman and the Colts have reached an agreement on a three-year contract extension worth up to $71.5 million on Monday.
Jordan Schultz @Schultz_Report
BREAKING: The <a href=”https://twitter.com/hashtag/Colts?src=hash&ref_src=twsrc%5Etfw”>#Colts</a> and star WR Michael Pittman Jr. have agreed to a 3-year deal worth up to $71.5M with $46M guaranteed, sources tell <a href=”https://twitter.com/BleacherReport?ref_src=twsrc%5Etfw”>@BleacherReport</a>.<br><br>One of the NFL’s top young wideouts is secure long-term in Indy. <a href=”https://t.co/qkjpkTNcH4″>pic.twitter.com/qkjpkTNcH4</a>
Indianapolis placed its franchise tag on him earlier this offseason, which would’ve paid him $21.8 million for the 2024 season.
The sides had until mid-July to negotiate a long-term contract extension, and they got the deal done with time to spare. Pittman was the first Colts player to receive the franchise tag since former punter Pat McAfee in 2013.
A second-round pick in the 2020 draft, Pittman didn’t take long to establish himself as Indianapolis’ top option on the outside despite having a different starting quarterback in all four years of his career. He led the team in receiving yards in each of the last three years.
This past season, Pittman put forth his best year with career highs of 109 catches and 1,152 yards while adding four touchdowns. His 28.2 percent target share ranked 11th in the NFL.
The Colts went 9-8 and barely fell short of the playoffs. Indianapolis is gearing up for the return of quarterback Anthony Richardson, who showed promise as a rookie before his first season was cut short due to shoulder surgery.
Giving Pittman a long-term extension provides the Colts with a franchise cornerstone and gives them a strong chance at building off the momentum of last season as they try to end a three-year playoff drought in 2024.