If the Houston Texans are looking for an asking price surrounding a Nico Collins extension, they may have found their answer Monday morning.
The Indianapolis Colts and Pro Bowl receiver Michael Pittman Jr. agreed to terms on a three-year deal worth up to $71.5 million with $46 million guaranteed. Pittman, 26, was placed on the nonexclusive franchise tag last week after the sides were unable to reach an agreement on a long-term deal before the deadline.
Since being drafted out of USC, Pittman has been one of the league's most consistent receivers. In four seasons, the 6-3 pass-catcher has hauled in at least 40 balls for 503 yards and a touchdown.
Pittman is coming off his best season with Houston's rival, totaling career-highs in receptions (109) and receiving yards (1,152 yards). Even without star rookie quarterback Anthony Richardson, Pittman managed to total 28.2 percent of the team's total targets, which ranked 11th in the NFL, per NFL Net Gen Stats.
Much like Pittman, Collins is coming off a career year with the AFC South champions. As the go-to target for C.J. Stroud, the former Michigan standout caught 80 passes for 1,297 yards and eight touchdowns in 15 games while averaging 16.2 yards per catch.
Collins, 24, also became the third player in Texans history to total 1,200 receiving yards in a season, joining Andre Johnson and DeAndre Hopkins.
When healthy, Collins has been a reliable target for the Texans' passing game. Drafted in the third round back in 2021, Collins caught 70 balls for 927 yards and three touchdowns in his first two seasons combined. He also missed 10 games over that same span.
General managers often love to retain their own talent, and Collins was the crown jewel of Nick Caserio's first draft with the franchise. Last month at the NFL Scouting Combine, Caserio seemed optimistic that the two sides could come to terms on a long-term deal, but it would likely happen after free agency.
"We’ll see,” Caserio said. “We’ll focus on our free agents, working with the process with them. We have as many free agents as any team, so we’ve had a lot of constructive dialogue with a number of representatives and agents.
“And I think we’ll focus on the players that are free agents now, and once we get through free agency into the spring, we’ll see where we are."
Extending Collins before the start of the season would be beneficial for both sides. For Collins, he be paid for his efforts in 2023 and would be expected to live up to the name as WR1.
For Houston, it potentially saves cash. Collins could garner over $25 million annually next offseason with another 1,200-plus yard season. Pittman's annual salary is expected to be around $23.8 million on the new deal.
Collins also wants to remain in Houston as Stroud's top weapon and has expressed interest in signing a new deal.
"I feel like that’s what everybody works for," Collins told KPRC2 last month. "I’m just going to let it come to me, whatever they decide, whatever they want to do. I’m going to let it ride. , I’m going to continue to get better and work on my game. If they want to negotiate, we can.”
An extension likely won't come in the next several days, but perhaps the biggest move the Texans make this offseason is retaining one of their own while building for the future.
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