Indianapolis Colts

The Indianapolis Colts are using their franchise tag on wide receiver Michael Pittman Jr. on Tuesday, according to sources. The tag will be worth $21.816 million, so that's what Pittman will receive in 2024 if he and the Colts aren't able to agree on a long-term extension by the deadline in mid-July. The Colts made it clear that they weren't going to let the 26-year-old wideout reach the open market this offseason. Despite working with quarterback Gardner Minshew for the majority of 2023, the former second-rounder in 2020 out of USC put up career-highs in catches (109), targets (156) and receiving yards (1,152) while scoring four times in 16 games. Pittman is a no-doubt WR1 in fantasy that could have even more upside with young QB Anthony Richardson (shoulder) returning in 2024.

Indianapolis Colts general manager Chris Ballard said that impending free-agent wide receiver Michael Pittman Jr. will be on the roster come Week 1 of the 2024 season this fall, either by an extension or the franchise tag, if necessary. The Colts aren't planning to let Pittman get away in free agency this offseason. The 26-year-old would make $21.8 million this year if he plays under the franchise tag, but both sides would prefer an extension. The former second-round pick in 2020 out of USC has blossomed into a WR1 in fantasy after four seasons in the league, two of which (including 2023) resulted in 1,000-yard seasons. Pittman had career-highs in catches (109), targets (156) and receiving yards (1,152) while scoring four times in 16 games last year. He could get even better with young quarterback Anthony Richardson returning from injury in 2024.

The Athletic's James Boyd writes that Indianapolis Colts tight end Mo Alie-Cox is an easy target if the team wishes to create more salary cap space this offseason. He's entering the final year of a three-year, $17.6 million contract extension that he signed in 2022. Alie-Cox is due the last $5.9 million of that in 2024, but none of it is guaranteed. The 30-year-old is the team's best blocking tight end and has recorded at least three touchdowns in each of the last three seasons, but he's not getting any younger and is unlikely to develop into a true No. 1 pass-catching tight end at this point of his career. Both Will Mallory and third-year tight end Jelani Woods, who missed all of 2023 with hamstring issues, give the Colts more upside at the position amid their current youth movement. Alie-Cox hasn't been much more than a low-upside, touchdown-dependent TE2 option for fantasy managers in deep leagues.

Indianapolis Colts general manager Chris Ballard has acknowledged that using the franchise tag on impending free-agent wide receiver Michael Pittman Jr. this offseason is an option. Pittman has been the team's leading receiver the past three seasons and will be one of the league's top free agents if he reaches the open market. The Colts have been more reluctant than most teams to use the tag -- they haven't used the tag on a player since tagging former punter Pat McAfee in 2013. Tagging Pittman in 2024 would cost around $20.7 million. The 26-year-old has accumulated 336 catches, 3,662 yards and 15 touchdowns in his first four seasons, which would put him in line to cash in considerably on the open market. No matter where Pittman lands in 2024 if he hits the free-agent market, he should profile as a WR1 in fantasy.

The Philadelphia Eagles re-signed tight end Albert Okwuegbunam to an undisclosed one-year deal on Thursday, according to a source. Okwuegbunam was scheduled to become a free agent in March, but he'll stick around in Philadelphia for at least another season. The Denver Broncos' former fourth-round pick in 2020 out of Missouri landed with the Eagles before the 2023 campaign but failed to catch his only target in only four games last season. The 25-year-old finished the year on Injured Reserve due to a mysterious hamstring injury. With Dallas Goedert, Jack Stoll and Grant Calcaterra ahead of him on the depth chart, Albert O figures to be facing an uphill battle to make the regular-season roster out of training camp this summer.