“Michael Pittman Jr.’s Contract Dilemma: Navigating Free Agency as Colts Eye Extension”
The upcoming 2024 free agent class may feature several promising young wide receivers, among them Michael Pittman Jr. While securing a new contract for the Colts’ primary receiving target is a priority, Pittman’s recent remarks indicate an openness to exploring opportunities in the broader market. However, the likelihood of him staying in Indianapolis for at least another season adds a layer of complexity to the situation.
Pittman has consistently delivered solid performances within the Colts’ offense, which has grappled with finding a stable solution at the quarterback position. As a former second-round pick, he has achieved a minimum of 925 yards in each of the last three seasons, experiencing a standout year in 2023. Pittman notably ranked fifth in the NFL with 109 receptions, amassing 1,052 yards and securing four touchdowns. Maintaining his role as the primary target in the team’s passing game, he received double-digit targets in nine games this season.
These impressive statistics have significantly elevated the 26-year-old’s market value as he approaches his first venture into free agency. Pittman stands poised to join other prominent receivers who have benefited from the position’s increased value over the past couple of years. A substantial contract awaits him, whether through a multi-year agreement with the Colts or another interested team, or potentially through the $21.66 million franchise tag. The USC alum is well aware of the potential market for his services beyond Indianapolis.
“I’ve loved my four years here, but I wouldn’t be doing my due diligence if I didn’t explore every option and find the best fit,” Pittman said, via Nate Atkins of the Indy Star. “I think we want to get a sense of what’s out there. We had an agreement that we were going to wait until the season ends before we feel it out.”
With the conclusion of the Colts’ season, the developments in negotiations for a new deal with Pittman become particularly intriguing. His indication of exploring other options gains significance considering the NFL’s offseason timeline. The deadline for teams to apply the one-year franchise tag is March 5, preceding the start of the new league year and free agency. If a team wishes to acquire Pittman or any other tagged player, they must negotiate a trade contingent upon finalizing an extension upon arrival. Typically, players are hesitant to play on the tag, but Pittman expressed openness to the idea of playing out the 2024 season with free agency looming once again, stating he “wouldn’t say necessarily no.”
General manager Chris Ballard affirmed the Colts’ readiness to utilize the tag if long-term deal discussions do not yield an agreement. While the official implementation of such a move, if required, would occur next month at the earliest, Pittman stands out as an apparent candidate for a contract that secures his future with running back Jonathan Taylor and first-round quarterback Anthony Richardson. Ballard expressed the organization’s commitment to working out an agreement that keeps this trio intact.
“I care deeply about him,” the latter said of Pittman, via a separate Atkins piece. “We have a really good relationship. It’s an honest one… The guy is competitive. He’s tough. He cares. He wants to win. We’re going to work to get him back… Pitt is a good football player for us and hopefully he still remains a Colt.”
Players subjected to a franchise tag maintain eligibility to negotiate a deal until the middle of July. The progression of discussions with Pittman will be closely monitored, particularly if the franchise tag becomes a requirement or if a tag-and-trade market materializes.
