The Indianapolis Colts signed star wide receiver Michael Pittman Jr. to a three-year, $71.5 million contract with $46 million guaranteed this offseason. Although the 2024 season is still on the horizon, this deal is already looking like a bargain for the Colts.
Recently, Nico Collins of the Houston Texans secured a three-year, $72.75 million contract with $52 million guaranteed, slightly surpassing Pittman Jr.’s deal. Pittman Jr., a second-round pick in 2020, and Collins, a third-round pick in 2021, have both shown their value, though in different ways.
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 @BleacherReport.
One of the NFL’s top young wideouts is secure long-term in Indy. pic.twitter.com/qkjpkTNcH4
— Jordan Schultz (@Schultz_Report) March 11, 2024
Collins is coming off his best season as a pro, with career highs of 80 catches, 1,297 yards, and eight touchdowns—numbers that exceed Pittman Jr.’s best season. However, Pittman Jr.’s career has been marked by consistency, with three seasons over 900 yards and 80 catches, compared to Collins, who only achieved such success once.
Both players have had to deal with mediocre quarterback play for most of their careers. Collins hit his stride last season with rookie phenom CJ Stroud under center, while Pittman Jr. had limited time with his rookie first-round QB last season. Despite this, Pittman Jr. has been a reliable force for the Colts’ offense. If Anthony Richardson can emerge as an elite quarterback this upcoming year, Pittman Jr. could reach even greater heights.
The bargain aspect of Michael Pittman Jr.’s contract for the Colts extends beyond Nico Collins’ recent deal. Pittman Jr.’s average yearly salary of $23.33 million already ranks tenth in the NFL, with players like Amon-Ra St. Brown, DeVonta Smith, A.J. Brown, and now Nico Collins signing contracts that surpass Pittman Jr.’s this offseason.
Breaking: The Texans have agreed to a contract extension with WR Nico Collins, per league sources. The new three-year deal will pay him around $24 million per year. https://t.co/ifwypUKTJk
— Dianna Russini (@DMRussini) May 28, 2024
Pittman Jr. is likely to continue falling down the list as several wide receivers are expected to receive lucrative contracts over the next two seasons. The Colts made a smart move by securing Pittman Jr. when they did. The only potential downside is the relatively short duration of the deal, meaning Pittman Jr. will be eligible for another payday in the 2027 offseason, when he will be 30 years old.
