Report: Michael Pittman Jr. signs extension with Indianapolis Colts ahead of NFL free agency

Michael Pittman Jr. has a new contract ahead of the 2024 season as he reportedly signed with the Indianapolis Colts. The two parties agreed to a 3-year deal worth up to $71.5M with $46M guaranteed, according to Jordan Schultz.

Through four years with the Indianapolis Colts, Pittman put up solid numbers following his rookie year. He set a career-high in catches and yards this past season.

In 2023, Pittman finished with 109 catches, 1,152 yards, four touchdowns and 10.6 yards per catch. In his career, Pittman has 336 catches, 3,662 yards, 15 touchdowns and 10.9 yards per catch.

The Colts drafted Pittman out of USC with the No. 34 overall pick (second round) in the 2020 NFL Draft. Over the course of four years, Pittman finished with 171 catches, 2,519 yards, 19 touchdowns and 14.7 yards per catch.

As a member of the Class of 2016, Pittman was a four-star recruit out of Thousand Oaks (Calif.) Oaks Christian, according to the On3 Industry Ranking, a weighted average that utilizes all four major recruiting media companies. He was the No. 8 overall prospect in the state, the No. 8 wide receiver in the class and the No. 57 overall prospect in the class.

More on the 2024 NFL offseason, free agency

The NFL 2024 calendar year begins at 4 p.m. ET on March 13. At that time, contracts running through 2023 officially run out, making those players free agents. Prior to the beginning of free agency, teams will have a chance to designate one franchise or transition tag player, starting on Feb. 20 at 4 p.m. ET and ending on March 5. Beginning March 11 through March 13 teams can enter into a legal negotiation with players who are set to become unrestricted free agents.

In addition to NFL free agency, the new year also marks the beginning of all trades being made official by the league office. April 19 marks the deadline to sign restricted free agents to offer sheets. On April 24, the deadline for teams to match restricted free agent offers sheets hits. Following the restricted free agent deadline follows the 2024 NFL Draft, which runs from April 25-27.

More on restricted, exclusive rights free agents

Players with only three years of accredited NFL experience become restricted free agents. Their original team will have the option to apply first-round, second-round, original-round, and right-of-fight-of-first-refusal tenders on players at escalating price tags. The higher the round, the more expensive the tender amount; however, if a separate team does offer a contract and the original team does not match that round pick will be conveyed from the new team to the original team. Right of first refusal only gives a team the option to match or not. 

If they don’t match, they get nothing in return. An original-round tender would send a draft pick from whatever round the player was drafted back to the original team if they chose not to match. The original team will have five days to match once a player signs an offer sheet from a new team.