The Indianapolis Colts and star wideout Michael Pittman Jr. reached an agreement Monday on a three-year, $71.5 million deal, according to Bleacher Report’s Jordan Schultz.
The deal guarantees $46 million for Pittman, Schultz reports.
The new deal, worth nearly $24 million per year, supplants the franchise tag Indy placed on Pittman last Tuesday.
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
It’s a surprisingly team-friendly deal for Pittman, who many expected to get a top-five deal in average annual value. His $23.8 million per year places him outside the top five and is even less than the $26 million per year deal the Tampa Bay Buccaneers gave wideout Mike Evans last Monday.
I love this for Indy. They’ve been one of the most inconsistent franchises in the league since their former franchise quarterback Andrew Luck retired in 2019. (RELATED: Megadeal Sets Record For Highest-Paid Guard In NFL History … Finally Hog Mollies Get The Respect They Deserve)
Pittman has been one of the few models of stability for the offense despite the fact that he’s had a different starting quarterback in each of his four seasons in the league.
In 2023, he went out and recorded career highs in yards and receptions, hauling in 109 passes for 1,152 yards.
The Colts are coming off a surprising year in which they finished 9-8 despite losing starting quarterback Anthony Richardson for the season in week five. Now they’ll get to keep their top weapon on the field for their young signal caller.