Pitts, 25, was set to be a free agent but now will be paid approximately $16.5 million for the 2026 season, an average of the top five salaries at his position.
Per NFL Network, the two sides will attempt to work out a long-term deal that will eliminate the need for Pitts to play the upcoming season under the tag. They have until July 15 to come to those terms.
A former fourth overall pick in the 2021 NFL Draft by Atlanta, Pitts has had a bit of an up-and-down career. His only 1,000-yard season came as a rookie but he exploded back onto the scene more prominently with 88 catches for 928 yards and a career-high five touchdowns last season.
The new coaching staff helmed by Kevin Stefanski and offensive coordinator Tommy Rees will retain Pitts as a primary receiving option alongside receiver Drake London.
While not officially announced yet by the team, Pitts is the first player who has been reportedly franchise-tagged this offseason. Indications are that the Dallas Cowboys might use the tag on receiver George Pickens.
Teams have until March 3 to make franchise tag decisions.
