The Indianapolis Colts placed their non-exclusive franchise tag on wide receiver Michael Pittman Jr., the team confirmed Tuesday.
The Colts and Pittman have been working on an extension and will continue talks, sources told NFL Network's Tom Pelissero.
The pass-catcher's one-year tender costs $21.816 million. He'll have until July 15 to agree to a long-term deal and avoid playing on the tag.
Pittman was poised to hit the open market after setting career highs in catches (109) and yards (1,152) in 2023 despite quarterback Anthony Richardson only playing in four games.
With Richardson set to return from his shoulder injury for the start of the 2024 campaign, retaining Pittman was a key part of Indianapolis' offseason plan.
Colts general manager Chris Ballard said last week that Pittman would be on the team's roster one way or another when next season starts.
Pittman, a 2020 second-round pick, led the Colts in receiving yards in each of the last three years. He's produced 336 receptions, 3,662 yards, and 15 touchdowns in 62 appearances.
