Colts tag WR Pittman Jr and continue contract talks -Update: New Deal 3 yr $70M
 

New deadline is July 15 for a deal or MPJ will play next season under the tag conditions.


https://twitter.com/TomPelissero/sta...05503523234112

https://twitter.com/JoelAErickson/st...09294666498149

https://twitter.com/JoelAErickson/st...11243637920140

o


It will be interesting to see how this plays out.



A) ) Negotiate with other teams, get a better offer, and then see if the Colts match it.


B) ) Play out his option with the Colts in 2024, then sign a lucrative deal another team when he hits free agency at the end of the season.


C) ) Play out his option with the Colts in 2024, then remain with the Colts in 2025 and beyond with a lucrative, long(er)-term contract.

o

If he goes to another team we get two first round picks from that team. He’s not going anywhere.

Not surprising. If that's accurate that the Colts and MPJ weren't that far off then I would have to guess that we'll be signing him to an extension before the deadline.

Rapoport is also reporting that the Colts and MPJ may complete a deal today.


https://twitter.com/RapSheet/status/1767209551193849946

Looks like the deal is done: 3 years, $70M (incentives could push it to $71.5M) with $46M guaranteed.


https://twitter.com/Schultz_Report/s...09679422099799

https://twitter.com/JosinaAnderson/s...13309390926005

https://twitter.com/spotrac/status/1767214568843972916

Also I would be thankful if a mod could update the thread title.

I tried to update it myself in the advanced editing, but it only allowed me to update the one directly above my original post - I couldn't update the one at the very top.

If you could copy/paste what I changed it to above my original post, that would be great.

Thanks

I can try when I get home. What do you want it to say?

Colts will tag WR Michael Pittman Jr and continue talks - Update: New Deal 3 yr 70M



It let me update it in one place (at the top of the first post), but not for the overall thread.

That is too many characters. I can try to shorten it.

I deleted out the word "contract" to get it to fit

Deleting his first name works, too.

Thanks Racehorse.

Now lets sign Higgins.

That’s a good deal for the Colts. For both sides, really. Puts him in the upper echelon but doesn’t break the bank.

Spotrac has posted the contract details:


https://www.spotrac.com/nfl/indianap...tman-jr-47629/


Michael Pittman Jr. signed a 3 year, $68,000,000 contract with the Indianapolis Colts, including a $15,000,000 signing bonus, $46,000,000 guaranteed, and an average annual salary of $22,666,667.

In 2024, Pittman Jr. will earn a base salary of $8,000,000, a signing bonus of $15,000,000 and a roster bonus of $5,000,000, while carrying a cap hit of $18,000,000.


Notes:

$41M guaranteed at signing (signing bonus + 2024 salary/roster bonus + $13M of 2025 salary)

Additional $5M of 2025 salary fully guarantees the 5th league day of 2025 (injury guaranteed at signing)



The Colts could exit the contract after the second year with only a $5M Dead Cap hit (prorated signing bonus)