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

[AlwaysSunnyinIndy]

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


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

The Colts are placing the franchise tag on WR Michael Pittman Jr., per sources.

The tag is worth $21.816M.

The sides have been working on a long-term deal and those talks figure to continue.

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

Colts go non-exclusive with the franchise tag.

Under non-exclusive tag, Pittman can negotiate with other teams, and if he gets an offer elsewhere, Indy can either match the deal or get two first-round picks from his new team.

First time Colts have used tag since 2013.

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

The Colts kept negotiating with Pittman Jr. right up until the deadline, and my understanding is the two sides were not that far away.

Non-exclusive tag, in theory, allows Pittman to gauge value on open market while two sides keep working towards deal.

[Colts And Orioles]

Originally Posted by AlwaysSunnyinIndy

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

[Dewey 5]

Originally Posted by Colts And Orioles

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.

[IndyNorm]

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.

[AlwaysSunnyinIndy]

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


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

The Colts and standout WR Michael Pittman Jr are expected to finalize a deal to keep him in Indy and no longer on the franchise tag deadline, sources say.

The deal could be done today — a major win for both sides.

[AlwaysSunnyinIndy]

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

BREAKING: The Colts and star WR Michael Pittman Jr. have agreed to a 3-year deal worth up to $71.5M with $46M guaranteed, sources tell Bleacher Report.

One of the NFL’s top young wideouts is secure long-term in Indy.

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

The Colts and WR Michael Pittman agreed to a 3-year deal worth 71.5M, per source.

Schultz Report first to report.

I'm actually told this deal was agreed to last week, but Pittman was on vacation at the time.

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

At $23.3M per year, Michael Pittman's 3 year, $70M extension with the Colts makes him the 8th highest average paid WR in football.

His reported $46M guaranteed currently ranks 10th among WR contracts.

[AlwaysSunnyinIndy]

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

[Racehorse]

Originally Posted by AlwaysSunnyinIndy

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?

[AlwaysSunnyinIndy]

Originally Posted by Racehorse

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.

[Racehorse]

Originally Posted by AlwaysSunnyinIndy

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.