Michael Pittman Jr.'s contract extension is already looking like a bargain for the Colts

The newest WR to earn a contract extension was Nico Collins with the Houston Texans, who signed a new three-year deal paying his $72.75 million with $52 million guaranteed. 

Collins ended up getting slightly more than Pittman Jr. The two WRs were drafted a year apart, with Pittman Jr. being a 2nd round pick in 2020 and Collins being a 3rd round pick in 2021. Collins is coming off, far and away, his best season as a pro, with him setting new career highs across the board with 80 catches, 1,297 yards, and eight touchdowns. His touchdowns and yards last season are more than Pittman Jr. has ever had in a season. But the difference between the two WRs has been Pittman's consistency during his career and Collins exploding onto the scene just last season.

Both certainly deserve the contracts they signed, but Pittman Jr. has three seasons with over 900 yards and 80 catches, and Collins only has one. Both have had to play the majority of their careers with mediocre QBs, up until this past year, where Collins set his career highs with rookie phenom CJ Stroud under center. Pittman Jr. only got to have his rookie 1st round QB for two complete games and two partial games last season. And even without an elite QB Pittman Jr. has been a steady force that leads the Colts offense. If Anthony Richardson can show himself to be a true elite QB this upcoming year, the sky will be the limit for Pittman Jr. 

The bargain element for the Colts here goes beyond Collins' new deal. Pittman Jr.'s yearly salary average of $23.33 million is already down to tenth in the NFL. With players such as Amon-Ra St. Brown, DeVonta Smith, A.J. Brown, and now Nico Collins receiving deals that surpassed Pittman Jr.'s this offseason. 

He will continue to fall down that list as well, with the following WRs expected to receive lucrative contracts over the next two seasons. 

2025 Free Agents: 

• Justin Jefferson 
• Tee Higgins
• Stefon Diggs
• Keenan Allen
• Amari Cooper
• Chris Godwin
• Diontae Johnson 

2026 Free Agents: 

• Ja'Marr Chase
• Jaylen Waddle
• D.K. Metcalf
• Deebo Samuel
• Terry McLaurin
• D.J. Moore

The Colts did the right thing, locking up Pittman Jr. when they did. The only complaint that can really be had here is that they weren't able to get a longer deal signed, which has Pittman Jr. up for another pay-day come the 2027 offseason, in which he will be 30 years old.