The Indianapolis Colts will try to navigate their free-agent priorities while veteran wide receiver Michael Pittman Jr. holds a sizeable salary cap hit.
INDIANAPOLIS, Ind. — The Indianapolis Colts have a very clear objective this offseason: pay to play.
The 2026 season is very much a win-now situation for general manager Chris Ballard, who is projected to have roughly $33 million in salary cap space and seven draft picks to work with in order to get the Colts over the hump and into the postseason for the first time since 2020.
Ballard already revealed recently at the NFL Scouting Combine that the team will likely find a way to add more draft picks. However, considering they'll have to pay nearly top-dollar to quarterback Daniel Jones and wide receiver Alec Pierce in free agency, they also need to create more cap space to afford more than just their star pass-game duo.
The most obvious opportunity to create more space is reexamining the contract of veteran wide receiver Michael Pittman Jr.
Pittman has one year remaining on his contract and has a $29 million cap hit, with $0 guaranteed and just $5 million dead cap. Releasing him would give the Colts an extra $24 million.
On many other teams, Pittman would be a blatant cap casualty. However, the Colts appear to be looking to resolve the contract conundrum rather than trading or releasing Pittman.
"I think the world of Pitt and who he is as a player, and any suggestion that he's not gonna be here is a pure hypothetical in my mind," Ballard said at the Combine.
When asked if it was realistic that Pittman play under his current contract, given the price to re-sign Pierce, Ballard acknowledged adjustments may need to be made by immediately referencing the team's salary cap specialist, Mike Bluem, Director of Football Administration.
Nov 23, 2025; Kansas City, Missouri, USA; Indianapolis Colts wide receiver Michael Pittman Jr. (11) celebrates with tight end Tyler Warren (84) after scoring a touchdown against the Kansas City Chiefs in the first quarter at GEHA Field at Arrowhead Stadium. Mandatory Credit: Jay Biggerstaff-Imagn Images"Mike Bluem does an unbelievable job for us," Ballard said. "So, whatever challenges we have, we'll work through them as we get these contracts done."
The Colts rewarded Pittman with a three-year contract extension during the 2024 offseason following a career year that saw him post personal bests in receptions (109) and receiving yards (1,152).
While Pittman has been a solid, reliable player for the Colts throughout his career, he will represent the sixth-highest salary cap hit among all NFL wide receivers in 2026 with his current deal.
All sides seem to understand that if Pittman is to continue being a Colt, the contract will have to look different.
"Indy is my home," Pittman told WISH-TV's Anthony Calhoun recently. "I love everything about it. I love the people there. I love this team. And I just really want to do everything that I can to bring this team back to where we should be and where we were in the past, like the Peyton Manning, Reggie Wayne, Marvin Harrison days.
"I would love to be a part of that, but part of it is not in my control. You know, just the nature of football, like it's a business, right? So, we'll see what happens."
The NFL's free-agent market opens on Mon. March 9, with teams beginning to negotiate with outside players.
Jake Arthur has been covering the Indianapolis Colts for over a dozen years and is a member of the PFWA. He's one half of the Locked On Colts podcast and has worked for the Colts' official website, On SI, and more. You can follow him on X @JakeArthurNFL.