Tom Pelissero reports the Colts are placing the franchise tag on WR Michael Pittman Jr.
The team officially announced the move as well.
We have placed the non-exclusive franchise tag on WR Michael Pittman Jr.
— Indianapolis Colts (@Colts) March 5, 2024
The two sides had been negotiating hard today to try and get a long-term deal done before the tag window closed.
Those negotiations can still continue, but the tag ensures Pittman will remain with Indianapolis this season. The Colts and Pittman have until mid-July to bridge what Mike Garafolo reports is still a significant gap.
The franchise tag is worth $21.816 million fully guaranteed for the 2024 season.
Pittman, 26, attended USC before the Colts traded up to select him in the 2020 NFL Draft.
He just finished out a four-year, $8,612,849 rookie contract that included a $3,823,890 signing bonus.
In 2023, Pittman appeared in 16 games for the Colts and caught 109 passes for 1,152 yards receiving and four touchdowns.
We have him listed in our Top 100 2024 NFL Free Agents list.
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