INDIANAPOLIS — Michael Pittman Jr. could have waited. When the Indianapolis Colts placed the non-exclusive franchise tag on him in March, he didn’t need to sign an extension a few days later. The tag ensured he’d make a guaranteed $21.8 million in 2024, with the chance to still negotiate a bigger long-term payday later this summer or chase another productive season and wait until 2025 to break the bank. Perhaps if Pittman had been more patient, he’d have landed a more lucrative contract.
When Pittman signed his three-year, $70 million extension with $46 million guaranteed, his $23.3 million annual salary ranked No. 7 among NFL wide receivers and No. 1 in the AFC South. Now, it’s No. 12 in the league and second in the division following a boom in the wide receiver market.
Does Pittman have any regrets?
“I kind of expected it to keep going because there was a long line of guys that still had to sign, but for me, I just got to a place where I was comfortable,” Pittman said Wednesday at veteran minicamp. “I felt like the structure (of my deal) was good, and we felt it was a good time to do the deal. I don’t look at other guys and kick myself. I don’t really care that much because … even if guys are getting more, I think what I’m getting is a decent amount of money.”
Since Pittman inked his new contract, six receivers have followed suit and leapfrogged him in annual salary. Minnesota’s Justin Jefferson headlined that bunch with a four-year, $140 million deal ($35 million per year) that makes him the highest-paid non-QB in NFL history. The other five were Philadelphia’s A.J. Brown ($32 million), Detroit’s Amon-Ra St. Brown ($30 million), Miami’s Jaylen Waddle ($28.25 million), Philadelphia’s DeVonta Smith ($25 million) and Houston’s Nico Collins ($24.3 million), who supplanted Pittman as the top-paid receiver in the AFC South.
Dallas’ CeeDee Lamb and Cincinnati’s Ja’Marr Chase and Tee Higgins appear to be next in line. Lamb is entering the final year of his rookie deal; Chase’s rookie contract expires after the 2025 season, and Higgins received the non-exclusive franchise tag as he enters the last year of his rookie contract.
“I think it’s great because we’re getting to a point where you don’t even gotta be the guy, and you’re gonna get a lot of money,” Pittman said. “You can be receiver No. 2 and get ($20 million) a year, so that’s where it’s heading.”
Pittman, 26, hopes that more receivers get raises, especially since he signed a three-year pact that will potentially open the door for him to cash in again before he turns 30. He even hinted at “probably making something happen” in two years before his new deal expires.
Colts center Ryan Kelly, who’s entering the final year of a four-year, $50 million extension he signed in 2020, believes Pittman has earned every penny that’s coming to him now and in the future.
“Obviously, I hope everyone gets as much money as they can playing this game,” Kelly said. “He certainly deserves it. The guy plays so hard, from the time he got here, to the time now, and I know he will going forward. To have that guy in the room, and obviously a lot of skill players in that room, a lot of young guys that look up to him, that’s just a really big part and part of why that room is successful and why we’re so successful on offense.”
Pittman had a scary collision with cornerback Jaylon Jones during OTAs on May 22, which left Pittman writhing in pain on the ground after banging his knee. He hasn’t practiced since, but he avoided a major injury. Colts coach Shane Steichen said the choice for Pittman to remain out during veteran minicamp was precautionary, and Pittman said he should be fully healthy when training camp begins next month.
Pittman, alongside a few other team leaders, is coordinating a player-led minicamp that will precede training camp. He hopes to meet up in his home state of California but joked that he couldn’t pay for his teammates’ airfare because that’s “a second-contract quarterback thing.”
Pittman totaled a career-high 109 catches for 1,152 yards and four touchdowns last year, ranking fifth in the league in catches and ninth in targets with 156. He became only the fourth player in Colts history to record 100 catches and 1,000 receiving yards in the same season, joining Pro Football Hall of Famer Marvin Harrison Sr. (four times), Colts wide receivers coach Reggie Wayne (four times) and former first-team All-Pro tight end Dallas Clark (2009). After stamping his name among the Indianapolis greats and establishing himself as one of the premier receivers in the NFL, Pittman will now be paid like one in 2024.
Pittman had a scary collision with cornerback Jaylon Jones during OTAs on May 22, which left Pittman writhing in pain on the ground after banging his knee. He hasn’t practiced since, but he avoided a major injury. Colts coach Shane Steichen said the choice for Pittman to remain out during veteran minicamp was precautionary, and Pittman said he should be fully healthy when training camp begins next month.
Pittman, alongside a few other team leaders, is coordinating a player-led minicamp that will precede training camp. He hopes to meet up in his home state of California but joked that he couldn’t pay for his teammates’ airfare because that’s “a second-contract quarterback thing.”
Pittman totaled a career-high 109 catches for 1,152 yards and four touchdowns last year, ranking fifth in the league in catches and ninth in targets with 156. He became only the fourth player in Colts history to record 100 catches and 1,000 receiving yards in the same season, joining Pro Football Hall of Famer Marvin Harrison Sr. (four times), Colts wide receivers coach Reggie Wayne (four times) and former first-team All-Pro tight end Dallas Clark (2009). After stamping his name among the Indianapolis greats and establishing himself as one of the premier receivers in the NFL, Pittman will now be paid like one in 2024.
