The Indianapolis Colts have placed a non-exclusive franchise tag on wideout Michael Pittman Jr.. The organization officially confirmed the move on Tuesday.
The non-exclusive franchise tag doesn’t prevent Pittman Jr. from entering the free-agent market. However, the Colts are able to match any offer he ends up signing and retain him under those conditions. If Pittman doesn’t sign an offer sheet with another team, he will return to Indianapolis in 2024 and play for a guaranteed $21.8 million salary.
Michael Pittman Jr. has had his best season as a pro in 2023. He finished the campaign with 109 catches for 1,152 yards and four touchdowns. Since entering the league as the Colts’ second-round pick in 2020, he has 336 receptions for 3,662 yards and five touchdowns.
“We love everything about him, and we want him to be a Colt,” Colts’ head coach Shane Steichen said on Tuesday via ESPN.
Michael Pittman Jr. is the first player the Colts have placed a franchise tag on since punter Pat McAfee back in 2013. According to reports, despite the tag, Indy and Pittman will continue negotiating, and there is optimism on both sides that they can reach a long-term agreement before the 2024 season kicks off.
