Andrew Luck has one more year left on his rookie contract, but Colts owner Jim Irsay doesn’t want his quarterback going anywhere near free agency.
According to a Colts spokesman, the owner told several reporters that he hopes to agree to an extension with Luck by July 4.
@JimIrsay also told @KBowenColts @HolderStephen and @MikeWellsNFL that we hope to have a new contract done with Andrew Luck by July 4th.
— avis roper (@coltsaroper1) March 22, 2016
#Colts owner Jim Irsay said today the team hopes to have Andrew Luck's contract extension done by July 4. My guess? 5 year/$125 million.
— Zak Keefer (@zkeefer) March 22, 2016
Luck, the No. 1 overall pick in the 2012 NFL draft, has thrown 101 touchdowns in his four-year career, including a league-leading 40 in 2014. Luck played only seven games in 2015 thanks to a lacerated kidney and torn abdominal muscle, throwing 15 touchdowns and 12 interceptions.
With Luck sidelined, Indianapolis finished 8-8 in 2015, a disappointing result after three straight 11-5 seasons.
When Luck inks an extension, he will probably become one of the NFL’s highest-paid players. Packers quarterback Aaron Rodgers was the highest-paid player in 2015, making $22 million, followed by fellow-QBs Russell Wilson, Ben Roethlisberger, Eli Manning and Cam Newton.
This situation is a bit tricky for the Colts, who also need to fill holes on the offensive line and on defense and are presumably worried about using too much cap space on their QB. But at the same time, quarterbacks of Luck’s stature don’t come along too often, and Indianapolis absolutely cannot let him walk away.
The best bet here is that the Colts and Luck come to an agreement that makes the Stanford grad very wealthy and all parties celebrate together with a Fourth of July barbecue.