INDIANAPOLIS — The next step to determine the depth of the Indianapolis Colts’ commitment to wideout Michael Pittman Jr. can be taken Tuesday.
The two-week window for NFL teams to use the restrictive franchise tag opens Tuesday and runs through 4 p.m. March 5.
As many as a dozen players might be tagged.
Pittman almost certainly will be among the group unless a long-term contract can be arranged prior to March 5. The one-year tag is approximately $20.7 million and becomes fully guaranteed when signed.
“I don’t want to use it,’’ Chris Ballard said last month, “but it’s a tool. If we have to use it, we will.’’
Pittman laughed when asked about the possibility of being tagged two days after the Colts finished the season 9-8.
“I don’t think anybody would be displeased with ($20.7 million),’’ he said. “I don’t really know. The franchise tag is almost like a tag of respect because you get paid like the top five of your position.
“But do I necessarily want to play on one? I wouldn’t say necessarily, no I do not want to play on the tag. You can use that to work on a long-term deal as well.’’
The Colts and Pittman still could agree to a long-term contract until mid-July.
Ballard has been steadfast in his commitment to Pittman.
“I care deeply about him,’’ he said. “We have a good relationship. It’s an honest one, almost too honest I think sometimes.
“But that’s what I love about him.’’
The franchise tag doesn’t guarantee the Colts retain their 2020 second-round pick who has led them in receiving the past three seasons.
The non-exclusive tag allows a player to negotiate with other teams and sign an offer sheet. In that scenario, the Colts would have the option of matching every detail of what would be an expensive long-term contract, or not matching and receiving two first-round draft picks in compensation from Pittman’s new team.
To completely keep Pittman off the open market, Ballard would have to affix him with the exclusive franchise tag, which carries a higher one-year financial hit.
Six players were tagged in 2023, including Baltimore’s Lamar Jackson. Aware their quarterback would command serious attention on the open market and teams wouldn’t be deterred by giving up two first-round picks as compensation, the Ravens used the exclusive franchise tag.
Jackson and the Ravens ultimately agreed to a five-year, $260 million contract that included $185 million in guarantees.
It’s doubtful a team would be willing to surrender two first-round picks to acquire Pittman.
However, Pittman has made it clear he’s eager to test the open market.
“As of right now until March whatever, I’m still a Colt,’’ he said. “But speaking to contract stuff, I made it this far so — I’ve loved my four years here — but I wouldn’t be doing my due diligence if I didn’t explore every option and find the best fit.
“I think we want to get a sense of what’s out there.’’
Regardless of how it plays out, Pittman is due a massive payout in 2024.
The top 13 wideouts in 2023 possessed an annual salary of at least $20 million.
The top 8 averaged at least $23.2 million, led by Miami’s Tyreek Hill ($30 million), the Raiders’ Davante Adams ($28 million), the Rams’ Cooper Kupp ($26.7 million) and Philadelphia’s A.J. Brown ($25 million).
It’s not a reach to expect the floor of Pittman’s negotiating stance to be in the $23 million range.
The 6-foot-4, 223-pounder represents everything Ballard and the Colts value in a core player.
“The guy is competitive,’’ Ballard said. “He’s tough. He cares. He wants to win.
“We’re going to work to get him back.’’
Pittman is the first player since T.Y. Hilton (2013-17) to lead the Colts in receptions and yards for three straight seasons. He’s piled up 296 catches, 3,159 yards with 14 touchdowns the past three years.
And in a business where timing is paramount, Pittman had the best season of his four-year career in the final year of his rookie deal: 109 catches, 1,152 yards, four TDs. The 109 receptions are tied for fourth-most in franchise history, and he tied Marvin Harrison’s team record with at least eight receptions in six consecutive games.
“He was big for us,’’ Colts coach Shane Steichen said. “What he did week-in and week-out — the numbers he put up, the consistency he played with, the toughness that he played with — I’ve got a ton of respect for him as a football player.
“He’s meant a lot to this organization and a lot to this city.’’
The franchise tag helps extend that relationship, if only for one season. A player can be tagged a maximum of three times, but the subsequent costs increase.
“Pitt is a good football player for us and hopefully he still remains a Colt,’’ Ballard said.
You can follow Mike Chappell on Twitter at @mchappell51.
