The Indianapolis Colts have their star wide receiver locked in for the future.
They had already placed the franchise tag on WR Michael Pittman Jr, but have now reached a long-term deal.
Jordan Schultz of Bleacher Report reveals that the team has reached an agreement on a three-year contract extension that could be worth up to $71.5 million.
BREAKING: The #Colts and star WR Michael Pittman Jr. have agreed to a 3-year deal worth up to $71.5M with $46M guaranteed, sources tell @BleacherReport.
One of the NFL’s top young wideouts is secure long-term in Indy. pic.twitter.com/qkjpkTNcH4
— Jordan Schultz (@Schultz_Report) March 11, 2024
They weren’t in a rush to get a deal done, as they had until mid-July to negotiate a new deal.
Nonetheless, this obviously helps them get a clearer picture of their finances ahead of the start of the NFL year.
Pittman was the first Colts player to be franchise-tagged since former punter-turned-media personality Pat McAfee got it in 2013.
He entered the league as a second-round pick in 2020, and he was quick to outplay his draft stock.
He became the Colts’ primary weapon in the passing game, and that’s despite his subpar quarterback situation.
Pittman Jr. has been able to put up big numbers despite having as many different quarterbacks as years in the league (4), leading them in receiving yards in three consecutive seasons.
The Colts showcased a solid offense with Shane Steichen in his first year as a head coach.
They’re going to build their offense around second-year QB Anthony Richardson, who showed glimpses of greatness in limited play as a rookie.
Now, he can rest assured that he’s going to have a reliable pass-catcher to throw the football to during the first steps of his promising career.
NEXT: Colts Use Franchise Tag For First Time Since Pat McAfee