The Indianapolis Colts placed the franchise tag on Michael Pittman Jr. earlier this offseason, but the star wide receiver will not have to play under it in 2024.
Pittman and the Colts agreed to a three-year contract worth up to $71.5 million, according to Jordan Schultz of Bleacher Report. The deal includes $46 million in guaranteed money.
Pittman set career highs last season with 109 catches and 1,152 receiving yards. The 26-year-old has been one of the most productive receivers in football over the last three seasons despite the Colts having a revolving door at the quarterback position.
With an average annual value of just under $24 million, Pittman’s new contract makes him one of the 10 highest-paid wide receivers in the NFL. The Colts clearly made it a priority to keep a No. 1 wide receiver in the fold for Anthony Richardson.
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