INDIANAPOLIS — Indianapolis Colts general manager Chris Ballard did everything he could to keep receiver Michael Pittman Jr. off this year's free agent market.
On Monday, he completed the job.
Two weeks after promising Pittman would be in Indy next season — one way or the other — the two sides were closing in on a three-year, $70 million deal with $46 million in guarantees, a person with knowledge of the negotiations told The Associated Press. The person spoke to the AP on condition of anonymity because the deal is being finalized.
It was no surprise given Ballard's repeated praise of Pittman's productivity, toughness over the middle and leadership inside the locker room. And at age 26, there's still room for growth, too.
“He wants to win and when you're a good player, part of that is you want the football," Ballard said during the NFL's annual scouting combine. “I don't know if I want to be around a guy that doesn't want the ball. That's OK. There's a way to do it, a right way to do it, but it's one of the things I appreciate about Pitt. The one thing you never have to worry about with that guy is he empties the tank. He absolutely empties the tank.”
Incentives could add another $1.5 million to the deal's total value.
When Pittman last spoke, in January, he said his agent wanted to wait until after the season to resume negotiations.
Ballard, meanwhile, continually said he hoped to complete a fair-market deal with Pittman before free agency officially opens Wednesday. It was Ballard's top offseason priority.
“I know we’re going to have a few free agents you’re all going to want to talk about and I’m probably going to give you the same answer — I would like to have them all back,” Ballard said in January. "But it doesn’t work that way. It’s just the nature of what we do. Pitt is a good football player for us and hopefully he remains a Colt.”
Pittman has 336 catches, 3,636 yards and 15 TDs and 11 carries for 100 yards and four more scores since the Colts drafted him No. 30 overall in 2020.
He's also coming off his best season in Indy. He had 109 receptions and 1,152 yards, both career bests, to go with four TD catches. Pittman became the fourth player in franchise history with 100 receptions in one season while logging his second 1,000-yard season despite missing one full game and part of another following a scary hit that resulted in a concussion and the ejection of Pittsburgh Steelers safety Damontae Kazee.
Still, Pittman wanted to see what he was worth.
“Speaking to the contract stuff, I made it this far so — I’ve loved my four years here," Pittman said at the end of last season. “But I wouldn’t be doing my due diligence if I didn’t explore every option and find the best fit.”
Yet Ballard remained hopeful of reaching a multi-year deal with the former Southern California star and the son of a Super Bowl champion.
The deal assures Indy will keep its three most prominent playmakers — quarterback Anthony Richardson, 2021 NFL rushing champion Jonathan Taylor and Pittman — together through at least 2026. Richardson was the No. 4 overall pick in last year’s draft.
Last season, injuries limited that trio to only two snaps together.
Taylor opened the season on the physically unable to perform list with a lingering ankle injury.
Richardson only appeared in four games and only finished one because of injuries. He had season-ending shoulder surgery in October and has recently resumed throwing.
The Colts also reportedly signed an extension with linebacker Zaire Franklin for three years. The $31.26 million deal runs through the 2027 season.
Franklin, 27, was drafted by the Colts out of Syracuse University in the seventh round of the 2018 NFL Draft. A team captain since the 2020 season, Franklin played 100% of the Colts' defensive snaps in 2022 and 99% in 2023, excluding one game missed with a knee injury.
Franklin tallied 167 and 179 tackles over the last two seasons, respectively. The latter is the Colts franchise record for tackles in a season.
Starting defensive tackle Grover Stewart reportedly signed a three-year, $39 million deal to stay in Indianapolis.
Pro Bowl cornerback Kenny Moore II, was re-signed by the Colts March 12, and he is now the highest-paid cornerback in the NFL. 13News confirmed Moore will get $30 million as a part of a three-year deal.
He entered the league as an undrafted rookie with New England in 2017, but has become a fixture in Indy's defense since being claimed off waivers in 2017.
Moore, who played college football at Valdosta State, has started 84 games over the past six seasons and was a 2021 Pro Bowl selection. He has 516 tackles, 17 interceptions, 9 1/2 sacks while forcing four fumbles in his pro career.
Two years ago, Moore expressed dissatisfaction over what he was being paid for the final two years of his previous contract. It resulted in a sub-par season.
But Moore arrived at training camp last summer with a fresh outlook and rebounded with another solid performance. He finished with 93 tackles and returned two of his three interceptions for scores.
Moore also had six passes defensed and 1 1/2 sacks in 2023.
Starting safety Julian Blackmon could hit the open market Wednesday.