Follow usIndianapolis Colts today placed their franchise tag on WR Michael Pittman Jr., who set career highs with 109 receptions for 1,152 yards in the last campaign.
The #Colts are placing the franchise tag on WR Michael Pittman Jr., per sources.
The tag is worth $21.816M. The sides have been working on a long-term deal and those talks figure to continue. pic.twitter.com/T4XLr7hElj
— Tom Pelissero (@TomPelissero) March 5, 2024
Indianapolis and the wide receiver’s representatives had been in discussions on a long-term extension in the past few days and were endeavoring to reach a contract before today’s deadline for players to be tagged, but negotiations weren’t successful.
“We love Michael, and we want him to remain in our team,” Colts manager Shane Steichen shared today.
The franchise tag, worth almost 22 million dollars for WRs for the upcoming campaign, will allow both parties to continue negotiating a new, long-term contract. However, the tag greatly restricts the wide receiver’s ability to shop himself as a free agent when we enter the new season in several days.
It is the 1st time that Indianapolis has used the franchise tag since 2013 when they used it on punter and media superstar Pat McAfee.
Pittman Jr. was the Colts’ top target in the past campaign at almost 30%, ranked 11th in the National Football League.
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