Pittman has agreed to a three-year deal to remain with the Colts, Ian Rapoport of NFL Network reports.

EDGE Analysis

The team had previously placed its franchise tag on Pittman, but evidently since then the two sides have been working toward a long-term deal. Per Rapoport, the wideout's looming new contract can reach up to $71.5 million and includes $46 million guaranteed. The 26-year-old is coming off a 2023 regular season in which he posted a career-high 109-1,152-4 line on 156 targets in 16 games. With Pittman staying in the fold in 2024 and beyond, the Colts have secured valuable stability at the wide receiver position, a context that no doubt will benefit the development of young franchise QB Anthony Richardson (shoulder).

Indianapolis have placed the franchise tag on Pittman ahead of Tuesday's 4:00 p.m. ET deadline, Tom Pelissero of NFL Network reports.

EDGE Analysis

General manager Chris Ballard made clear earlier this offseason that Pittman wouldn't go anywhere, and the franchise tag positions him to play out the 2024 campaign on a fully guaranteed one-year, $21.87 million contract if no long-term alternative is agreed upon. The Colts and Pittman will have until mid-July to continue negotiating a multi-year extension, and the team may well be viewing the franchise tag as a bridge to continue talks. For 2024, at the very least, Pittman's presence will provide young franchise quarterback Anthony Richardson (shoulder) with some stability and a reliable No. 1 target in the receiving game, even if Indianapolis doesn't significantly upgrade its pass-catching corps. Pittman compiled a career-best 109-1,152-4 receiving line on 156 targets in 2023, and his fantasy prospects could improve for 2024 with the promise of flashier quarterback play for a full season.

Colts general manager Chris Ballard said Wednesday that Pittman will be on the team's roster for the upcoming season, whether via contract extension or the franchise tag, Nate Atkins of The Indianapolis Star reports.

EDGE Analysis

Pittman is approaching free agency for the first time in his NFL career, but the Colts aren't planning on giving him a chance to explore the open market. Indianapolis has until March 5 to decide whether to place the franchise tag on Pittman, which would result in him taking home a salary of approximately $21.8 million for 2024. However, the team seemingly prefers to work out a longer-term extension with Pittman, provided the two sides can come to an agreement. The Colts haven't used the franchise tag since 2013, and Pittman himself has said he would prefer a multi-year contract, per Stephen Holder of ESPN.com.

Pittman corralled five of six targets for 44 yards in Saturday's 23-19 loss to the Texans.

EDGE Analysis

Those deploying Pittman in fantasy were unfortunately charged with a lost fumble on the final play of regulation when the Colts were attempting to return a kickoff using multiple laterals. Indianapolis' top wideout still led the club in catches Saturday, ending his 2023 campaign with a new career high of 109 receptions over 16 games. Pittman also set a new high-water mark in yards this year (1,152), but his four touchdowns fell short of the six he scored in 2021. The USC product picked an excellent time to set new career marks, as he will enter the upcoming offseason as an unrestricted free agent.

Pittman caught five of seven targets for 46 yards in Sunday's 23-20 win over the Raiders.

EDGE Analysis

The Indy passing attack took a back seat to Jonathan Taylor and the ground game, but Pittman still led the team in catches and targets. The fourth-year wideout set new career highs in receptions (104) and receiving yards (1,108) on the season in the process, and with the Colts locked in a three-way tie atop the AFC South, Pittman may need to come up big in Week 18 against the Texans.

Pittman (concussion/shoulder) is listed as active for Sunday's game against the Raiders.

EDGE Analysis

Pittman -- who cleared the NFL's concussion protocol Friday -- logged full practices both Thursday and Friday but was still listed as questionable by the Colts ahead of Sunday's contest. With his active status confirmed, the team's top pass catcher is poised to reclaim his key role in the Indianapolis offense. In the 14 games he's suited up for this season, Pittman has racked up a fantasy-friendly 99 catches on 143 targets for 1,062 yards and four TDs.

Pittman (concussion/shoulder) is slated to play in Sunday's contest against the Raiders, Adam Schefter of ESPN reports.

EDGE Analysis

Pittman has had a winding road through the concussion protocol, getting removed from it before a Week 16 matchup with the Falcons, returning to it after reporting symptoms following the trip to Atlanta and clearing it again this Friday. Still, the Colts made the decision to list him as questionable for Week 17 action just in case. Pittman did tell JJ Stankevitz of the Colts' official site that he feels "great" and "should be ready to roll" this weekend, something that'll be confirmed, one way or another, approximately 90 minutes before Sunday's 1:00 p.m. ET kickoff.

Pittman (concussion/shoulder) is listed as questionable for Sunday's game against the Raiders after logging full practices Thursday and Friday.

EDGE Analysis

Per JJ Stankevitz of the Colts' official site, Pittman -- who says he feels "great" at this stage -- cleared the NFL's concussion protocol Friday and "should be ready to roll," noted head coach Shane Steichen with regard to the wideout's status for this weekend's game. Fortunately for those planning to use Pittman in Week 17 fantasy lineups, the Colts kick off at 1:00 p.m. ET on Sunday, but barring any unexpected setbacks, he should be back after being inactive for the team's Week 16 loss to the Falcons.

Pittman (concussion/shoulder) has cleared the NFL's protocol for head injuries and is in line to play against the Raiders on Sunday, barring any setbacks, Nate Atkins of The Indianapolis Star reports.

EDGE Analysis

The Colts' final injury report of the week will confirm whether Pittman approaches the contest with a designation or fully cleared to face Las Vegas, but at this stage it appears as though the team's top pass catcher will return to the lineup following a one-game absence.

Pittman (concussion/shoulder) was listed as a full practice participant Thursday.

EDGE Analysis

Per James Boyd of The Athletic, Pittman wasn't sporting a non-contact jersey Thursday, which suggests the wideout is progressing well ahead of Sunday's game against the Raiders. The Colts haven't yet indicated that Pittman has been removed from concussion protocol, as the wideout may still need to receive clearance from an independent neurologist before getting the green light to play Sunday. More clarity on Pittman's status should come when head coach Shane Steichen speaks to the media Friday.