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The Indianapolis Colts are not letting Michael Pittman Jr. leave town. The team agreed to a three-year deal with its star wide receiver worth $71.5 million, CBS Sports HQ senior NFL insider Josina Anderson confirms. The deal was agreed upon last week, but Pittman was on vacation, Anderson reports. The deal will also include $46 million guaranteed, according to NFL Media.

The Colts confirmed bringing back Pittman on social media:

This comes one week after the team placed the non-exclusive franchise tag on Pittman. The two parties did not reach a long-term agreement before the deadline, but did eventually get there. Bringing back the standout receiver is a positive for both sides. 

Pittman, 26, was a second-round pick for the Colts in 2020 and will be entering his fourth year with the team in 2024. He had a career year last season, with highs in receptions (109) and yards (1,152) and hauled in four touchdowns. 

In his career, he has 336 receptions for 3,662 receiving yards and 15 touchdowns in the air. Only five other Colts players in franchise history have more catches over four seasons -- Marvin Harrison, Reggie Wayne, T.Y. Hilton, Dallas Clark and Bill Brooks -- putting Pittman in good company.