Colts’ Michael Pittman Jr. received some excellent news led into free agency

admin | February 24, 2024 | Other Clubs | No Comments

The team’s leading receiver received many boosts to his free agent prospects.

The Indianapolis Colts should have prepared to renew Michael Pittman Jr.’s rookie contract, which expired at the end of the year. He demonstrated his significance by emerging as the team’s top receiving threat. He achieved a career high in yards despite missing the game against the Falcons.

I believe they will still be able to bring him back on a long-term contract, but following two incidents elsewhere in the NFL landscape, the price may have risen slightly.

The NFL cap is going up. Way up.

The ceiling increased by 30.6 million. This represents a 13.6% increase from last year. This means that teams have more money to play with. Teams that may not have had much experience with the free agent market are suddenly in play.

That could offer up a few more options for Pittman, who previously mentioned that he wanted to explore what was available in the summer. It also means that if the Colts elect to franchise tag Pittman, he will earn a greater salary.

In addition to the significant cap hike, one of the top free agents has already been signed. Pittman was one of the top receivers on the free agent list entering the offseason, alongside Tee Higgins and Mike Evans. Higgins was recently franchised by the Bengals, so he isn’t going anywhere, at least for now.

That demonstrated to Pittman how much he would earn under the same tag ($21.8 million) and perhaps removed the top name off the market. The Colts will need to do everything it takes to retain him on the roster right now.

Ideally, the Colts will sign Michael Pittman Jr. to a long-term contract, locking him in for the majority of his prime years. He has proven his worth as the team’s leading receiver over the last several years. The Colts now have even more cap space to deal with as a result of the increase, but with Higgins’ franchising, they have less options available. Whatever happens, Pittman will be paid handsomely.

The NFL announced today that the 2024 Salary Cap will be $255.4 million per club, with an additional $74 million per club payment for player benefits, which includes Performance Based Pay and benefits for retired players.

— Tom Pelissero (@TomPelissero) February 23, 2024

NFL’s increased salary cap ($255.5 million) means fatter franchise tag for Colts’ Michael Pittman Jr. ($21.8 million) | Fox 59 https://t.co/sMSmJjVEHi

— Mike Chappell (@mchappell51) February 23, 2024