Michael Pittman Jr. was never leaving Indianapolis — no matter how stoic his poker face was or how much he hinted at gauging his value on the open market. The standout wide receiver knew deep down there was no chance he’d become a free agent and no chance he’d suit up for another team besides the Colts.
Advertisement
“Every year that you play is like a job audition for 32 teams,” Pittman said last summer.
He never got to apply for 31 of them.
GO DEEPER
Indianapolis Colts 2024 free agency tracker: Michael Pittman Jr. secures extension
Pittman had come too far and proven too much, steadily increasing his value through the first four years of his career, despite catching passes from seven different starting quarterbacks. The Colts were wise to place the non-exclusive franchise tag on Pittman ahead of the March 5 deadline, ensuring he’d stay put for at least one more season. They were even wiser to work out a long-term contract extension just six days later.
On Monday, Pittman and the Colts agreed to a three-year, $70 million deal worth up to $71.5 million in incentives, league sources confirmed to The Athletic. Pittman will earn $46 million guaranteed over the first two years of the deal.
— James Boyd (@RomeovilleKid) March 11, 2024
The deal is a win-win for the Colts and Pittman. The team keeps its top target in town, and Pittman receives his payday after a career year that included 109 catches for 1,152 yards and four touchdowns. His annual salary of roughly $23.3 million ranks eighth among NFL receivers, just below San Francisco’s Deebo Samuels and just above Washington’s Terry McLaurin. The debate about whether or not Pittman is a true No. 1 receiver is now a moot point, especially because his value shouldn’t have been viewed in a vacuum to begin with.
This extension isn’t just a nod to one of the Colts’ best players. It’s a lifeline extended to the team’s most important one: Anthony Richardson.
None of this works without the young quarterback, and while Richardson possesses immense potential, he needs a quality supporting cast to help him fulfill it. So it makes a lot of sense finically and personnel-wise to align Pittman’s extension with Richardson’s rookie deal. Pittman will be 29 when he looks to cash in again, allowing the Colts to choose if they’d like to stick with him or move on as Richardson’s potential payday comes into focus.
“He’s a dog. When you get the ball in his hands, you see what he can do,” Richardson said of Pittman at the end of the season. “He’s a physical receiver. He can catch. He can block. He can do it all, and he’s smart. … Just getting the ball in his hands, it definitely takes a lot off me.”
Richardson flashed his otherworldly physical gifts early in 2023. He became the youngest player in the Super Bowl era with multiple passing touchdowns and a rushing TD in the same game, according to NFL Research. His 3.4 percent explosive play rate (runs of at least 12 yards and completions of at least 16 yards) ranked No. 1 among QBs with at least 150 offensive snaps through the first five weeks of the season.
Advertisement
But five weeks and four games is all he got. A concussion sidelined Richardson in Week 3, and a severe AC joint sprain in his throwing shoulder sidelined him for good in Week 5. He underwent shoulder surgery Oct. 24 and began throwing again last month. As Richardson works his way back, Pittman will help him navigate the obstacles that surely lie ahead.
“It’s huge. When you have a reliable player like Pitt that is going to show up every Sunday and make plays like he does, it definitely helps a young quarterback,” Colts coach Shane Steichen said last week. “To keep getting that chemistry with those two guys, building, will be huge for Anthony’s growth.”
Pittman’s deal is the latest move the Colts have made to maximize and possibly expedite Richardson’s development. When former league rushing champ Jonathan Taylor was going through his contract dispute with the Colts last year, one of the deciding factors in the three-year, $42 million extension he landed amid a depleting running back market was Richardson, according to team owner Jim Irsay.
“It’s exciting when you look at what you can do with a 21-year-old quarterback like we have and a 24-year-old running back like we have,” Irsay said last October.
Irsay called both players’ athletic prowess “unprecedented,” and although they were limited to just two snaps together in 2023, it’s not a stretch to say they could be the most dynamic quarterback and running back tandem in the league in 2024. Add Pittman to mix in the passing game, and Indianapolis’ offense could be dangerous with Steichen steering the ship.
The Colts still have work to do in the draft and free agency, but an offense headlined by Richardson, Taylor and now Pittman for at least the next three seasons is a good start. Josh Downs is another significant piece after a stellar rookie campaign in which he set the rookie franchise record with 68 receptions for 771 yards and two TDs. Alec Pierce still has room to grow, as well. Ballard hinted at his team’s need for a fourth wide receiver, which was a hindrance last year after Ashton Dulin tore his ACL in training camp, though he may be thinking even bigger.
Advertisement
The Colts GM landed Pittman with the No. 34 pick in 2020. Could he pick another wideout in the top two rounds this year?
“It’s a really strong class,” Ballard said. “I don’t know if you see them as strong as this, but I compare it almost to like when Pitt came (out). That year was really good and (Justin) Jefferson and (Brandon) Aiyuk and Pitt in the upper part of the draft. I think CeeDee Lamb was in that draft.”
Tee Higgins was also a member of that draft class, but his time in Cincinnati may be coming to an end after he was franchise tagged and requested a trade. For Pittman and the Colts, their time will continue as they usher in a new era defined by timely investments with the hope that Richardson can make good on the returns.
(Photo of Anthony Richardson and Michael Pittman Jr.: Carmen Mandato / Getty Images)