What It Means:

The Colts placed the franchise tag on Pittman last week, but both sides remained committed to signing a long-term contract. The deal includes $46 million guaranteed and carries a maximum value of $71.5 million. Pittman set career-highs in his fourth season, but with Anthony Richardson (shoulder) returning, he could top those marks in 2024.

Pittman averaged 12.2 FanDuel points per game last season, with 109 receptions on 156 targets for 1,152 yards and 4 touchdowns. He drew 28.5 percent of the Colts targets and accounted for 29.8 percent of the team air yards.