The Colts put an end to the Jonathan Taylor contract saga earlier this month, but more work remains to be done in the near future on the extension front. Wideout Michael Pittman Jr. is set to hit free agency at the end of the season, and he recently spoke about his contract status. 
Pittman is playing the fourth and final year of his rookie pact, and as a former second-round pick the fifth-year option is not in play. The 26-year-old will thus need to ink a new Colts agreement between now and the new league year in March or face the possibility of heading elsewhere on what will no doubt be a signficant second contract. He has previously expressed a desire to remain in Indianapolis.
“The way I see it is teams take care of their guys,” Pittman said, via Nate Atkins of the Indy Star. “If you’re not one of their guys, you’re not one of their guys. I’m just playing day to day and auditioning for 31 teams and just going out there and making a couple plays. I have a commitment to my teammates.”
Those remarks illustrate how the USC alum is aware of his potential market if he reaches free agency. Pittman eclipsed the 1,000-yard mark in 2021, then followed that up with a 99-catch, 925-yard performance last season. His 297 receiving yards through five games entering Sunday’s action lead the Colts, a team which has been in search of complimentary options to Pittman over the past few years.
That effort has resulted in the likes of Alec Pierce and Josh Downs being drafted on Day 2 of the past two drafts, but extending Pittman for the foreseeable future would allow Indianapolis to retain its pass-catching anchor. Doing so will no doubt require a sizeable multi-year investment given his production and the overall landscape at the receiver position, with several players routinely landing eight figures per year on extensions. As a result of the upward trend at the WR spot, a Pittman franchise tag would cost the Colts roughly $23MM.
Pittman added that he is content to play out the remainder of the season without a 2024 agreement in place. As a result, his performances with backup Gardner Minshew at quarterback for the the time being will be worth watching with respect to how it affects his bargaining position.
He’s one of the top #2 WR’s in the league