Jordan Schultz reports that the Colts are signing franchise WR Michael Pittman Jr to a three-year extension worth up to $71.5 million.
According to Schultz, the contract includes $46 million guaranteed.
Ian Rapoport adds that the base value is $70 million.
The Colts placed the franchise tag on Pittman Jr a few weeks ago to keep him off the market. However, Ian Rapoport mentions that the two sides were close to a deal at the time and it looks like they were able to hammer out the details before free agency.
The franchise tag would have cost the Colts $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.
Looking for the latest NFL Insider News & Rumors?
Be sure to follow NFL Trade Rumors on TWITTER and FACEBOOK for breaking NFL News and Rumors for all 32 teams!
