The Indianapolis Colts will have a bit more cap room than first expected in 2026, as the cap is projected to be north of $300 million when the NFL announces the number before free agency starts. The issue is that every team will have more room to negotiate with free agents, which levels the playing field.
Indy might still need to create cap room in order to bring back quarterback Daniel Jones and wide receiver Alec Pierce. Other teams could outbid them with the higher cap ceiling. One way of making more room is by releasing wide receiver Michael Pittman.
Pittman carries a staggering $29 million cap hit in 2026, and releasing him would save the team a whopping $24 million. That alone would be enough to bring back Pierce, most likely, so the team has to weigh whether it would rather have Pittman or Pierce.
Michael Pittman confirms he wants to stay a part of the Indianapolis Colts
Pittman is the more consistent receiver. He will have between 800 and 1,000 receiving yards each season, and catch most of his targets. He doesn't provide much in terms of high yards per catch.
Pierce is the more consistently explosive. He is 6'3" with an abundance of speed and understands how to use his body to shield defenders on passes deep down the field. In each of the past two seasons, he has led the NFL in yards per catch. He is the first receiver in nearly 40 years to have back-to-back 20-plus yards per reception seasons.
Ideally, the Colts would be able to re-sign Alec Pierce while keeping Michael Pittman. Both are good at what they do. As for Pittman, he doesn't want to leave.
Speaking with WISH TV during media week ahead of the Seattle Seahawks playing the New England Patriots in Super Bowl LX, Pittman said, "Indy is my home. I mean, I love everything about it. I love the people there. I love this team. I just really want to do everything that I can to bring this team back to where we should be...I would love to be a part of that, but part of it is not in my control. The nature of football it's a business, right? So, we'll see what happens."
The wide receiver likely knows, even if Indianapolis releases him, that he will find a new football home shortly thereafter and be paid a handsome amount. It won't be $29 million, but it would likely be well north of $10 million a season. He's a sure-handed receiver and a good guy off the field.
He could even be a perfect WR2 for a team like the San Francisco 49ers or Seattle Seahawks. What he can't be is a $29 million receiver for the Indianapolis Colts in 2026. The best option may be for the team to sign Pittman to an extension, thereby lowering his cap hit in 2026 by as much as $10 million.