Shortly before the NFL’s legal tampering period kicked off, Ian Rapoport reported that the Colts and WR Michael Pittman Jr. have agreed to a new three-year contract extension to keep the veteran WR in Indianapolis. The Colts placed the franchise tag on Pittman with hopes of working out a new long-term deal, and they were able to agree to a three-year deal eventually.

Let’s examine the immediate implications and fantasy impact of Pittman agreeing to stay with the Colts.

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Michael Pittman Jr. Re-Signs With Colts

Indy used the franchise tag on Pittman as a placeholder but now have sown up their stud number receiver for the next three seasons. In his first season as Shane Steichen’s number-one wide receiver, Pittman finished as the WR14 in fantasy points per game while setting career highs in targets (156), receptions (109), receiving yards (1,152), and air yards (1,232).

Among 105 qualifying receivers last season, Pittman was fifth in target share (28.1%), 24th in yards per route run (2.19), and seventh in first-read share (35.7%). Pittman will remain the team’s clear WR1 moving forward with a healthy Anthony Richardson (hopefully) under center in 2024. The Colts won’t likely turn into a top 10 neutral passing rate team, but if they continue to rank top 10 in neutral pace like they were last season (first in neutral pace), the passing volume should be fine, and Pittman should remain as a strong WR2 in 2024.

Pittman and the Colts get a deal done ? pic.twitter.com/5jCjEzGUag

— FantasyPros (@FantasyPros) March 11, 2024

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