In the ever-evolving landscape of NFL free agency, the Indianapolis Colts find themselves in a tight spot. With an estimated $35 million in cap space, the team is aiming to re-sign a top-tier quarterback and a standout receiver, while also eyeing a veteran edge rusher to bolster their defense. This financial juggling act necessitates some tough decisions, but one thing seems clear: cutting wide receiver Michael Pittman Jr. may not be on the table.
Despite the potential $24 million cap savings from releasing Pittman, Colts GM Chris Ballard was quick to dismiss any notion of parting ways with the talented wideout. "I think the world of Pitt and who he is as a player," Ballard stated emphatically at the NFL Combine. "Any suggestion that he’s not going to be here next season is a pure hypothetical, in my mind."
Pittman, now 28 and coming off his sixth NFL season, has been a pivotal figure for the Colts. His 2023 campaign saw him achieve career-highs with 109 receptions and 1,152 yards. However, after a dip in production last year, where he recorded just 784 receiving yards, Pittman acknowledged that his performance didn’t quite match his hefty contract.
Reflecting on the Colts' struggles, including a seven-game skid to end the season, Pittman was candid about his role. "The last half just wasn’t good enough, and that starts with me," he admitted. Despite dealing with an injured Daniel Jones, a briefly unretired Philip Rivers, and rookie Riley Leonard at quarterback, Pittman shouldered responsibility for his part in the team’s late-season woes.
The financial implications of Pittman's contract are significant. His $29 million cap hit for 2026 is the highest among Colts players, but cutting him would leave only $5 million in dead money, freeing up $24 million.
Yet, the possibility of restructuring his deal remains a viable path. By adjusting the terms, the Colts could retain Pittman at a more manageable cost, ensuring they maintain their offensive depth alongside talents like tight end Tyler Warren and slot receiver Josh Downs.
As the Colts navigate these financial waters, the focus remains on building a competitive roster without sacrificing key players like Pittman. With strategic moves and potential contract adjustments, Indianapolis aims to keep its core intact while making a splash in free agency.