The Colts used their franchise tag on Michael Pittman Jr. after an attempt to get a long-term contract extension done before Tuesday’s deadline fell short.
But, the $21.8 million franchise tag allows for Pittman’s representatives and the Colts to continue to talk and work toward a new contract for one of the best receivers in the franchise’s history.
Only five other players — Marvin Harrison, Reggie Wayne, T.Y. Hilton, Dallas Clark and Bill Brooks — have made more catches than Pittman in Colts history.
Pittman has 336 catches over four NFL seasons with 15 touchdowns to his name in Indianapolis.
The Colts appear motivated to find a way to lock up Pittman beyond just 2024 based on what general manager Chris Ballard told reporters at the NFL combine last week.
“Here’s what I’ll tell you, we’ve had talks with his agent, who is really good. His agent has been doing it a long time. He’s really good at what he does. We’ll work hard to get a deal done,” Ballard said, via CBS Sports. “It’s [the franchise tag] a tool we have. I’m not going to say we’re not going to use it, but I’m not going to say we are. Hopefully we can come to an agreement and find some compromise on a deal.”
Tuesday’s decision marked the first time the Colts have used the franchise tag on a player since 2013, when they utilized the option on punter Pat McAfee.
Pittman is coming off of a 2023 in which he had his first 100-plus catch campaign, finishing the year with 109 receptions, which ranked as the fifth-most in the league.
He was the Colts’ top target for rookie quarterback Anthony Richardson last year, going to Pittman 28.2 percent of the time.
With the Colts using the non-exclusive tag on Pittman, the wide receiver can field offers from other teams, but the Colts would have a chance to match any offer or be entitled to two first-round picks as compensation if he does indeed depart.