NEW DELHI: The Indianapolis Colts have placed the non-exclusive franchise tag on star wide receiver Michael Pittman Jr. The tag ensures that Pittman remains with the Colts for the 2024 season in a strategic move ahead of the NFL's franchise tag deadline. In the new contract, he is set to earn $21.82 million if a long-term contract extension is not reached before July 17.
The non-exclusive franchise tag allows Pittman to engage in contract discussions with other teams while blocking his unrestricted entry into free agency.
Should Pittman sign an offer sheet with another team, the Colts retain the right to match the deal and keep their standout receiver. If they opt not to match, the Colts would receive two first-round picks as compensation.
General manager Chris Ballard emphasized the importance of retaining Pittman during discussions about free agency at last week's NFL Scouting Combine.
Pittman had a stellar 2023 season, leading the team with 109 receptions, 1,152 receiving yards, and four touchdown catches. Over his four seasons with the Colts, Pittman has accumulated 336 receptions for 3,662 yards and 15 touchdowns
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