While the Indianapolis Colts are actively trying to get a deal done with Alec Pierce, their other big-name wide receiver poses a problem of his own. Michael Pittman Jr. is going to cost them more money than they can afford to spend on him, and with free agency just around the corner, GM Chris Ballard has a decision to make.
Pittman has spent his entire career in Indianapolis. While not a superstar, he's well-liked and respected in the building. Nevertheless, he has a $29 million cap hit, the second-largest on the team behind only Daniel Jones' ($37.8 million).
That's why it was normal to wonder whether the Colts would part ways with him. According to Over The Cap, trading him would free $24 million in cap space. With that in mind, Ballard reaffirmed his commitment to him and his desire to keep him in town.
The Indianapolis Colts have to extend or trade Michael Pittman Jr.
"I think the world of Pitt and who he is as a player," Ballard said at the NFL Scouting Combine. "Any suggestion that he's not going to be here is a pure hypothetical in my mind."
Regardless of Ballard's feelings, the Colts need to do something. Signing him to an extension could free $18.2 million in cap space, giving the team a chance to spread his cap hit over the next couple of years. Then again, while that sounds like the most likely scenario, the Colts would've already done that if they were so eager to work things out.
If that's not going to be the case, they will have no choice but to find him a trade suitor. He's young, productive, and should have a solid market, and it would probably be the best way to secure enough money to keep Alec Pierce in town. Pierce will be in high demand and sign a deal well north of $20 million, and every penny will count.
Pittman has the seventh-highest cap hit among wide receivers this season. As good a player as he is, that's simply unsustainable. He had 80 receptions on 111 targets for 784 yards and a career-high seven touchdowns last season.
Even though he's mostly used outside, Pittman lined up in the slot 284 times (28.9 percent). He helped the team get 47 first downs, and quarterbacks had a 94.7 passer rating when targeting him, according to Pro Football Focus (subscription required).
That said, he also led to five intercepted passes, and he only hauled in 7 of 17 contested catches (43.8 percent). He's clearly a good player, but at 28, there are also enough reasons to have doubts about giving him a big-money extension.
The Colts will re-work Daniel Jones' huge cap hit when (if) they agree to a long-term contract. In the meantime, they need to prioritize keeping their actual WR1, which is why they can't afford to keep dragging this decision.