Colts owner Jim Irsay said Tuesday that he believes “there’s a good chance” that they sign QB Andrew Luck to a contract extension that will ultimately be in the “nine figures” during the offseason.
“Obviously being this early, there’s no reason to think that we would have had major negotiations yet, but that’s going to be happening as this month gets later and March comes in and all that sort of thing,” Irsay said, via ESPN.com. “I think there’s a good chance we’ll get something done.”
There has been a lot of talk about Luck setting the record for the highest paying deal in NFL history, but Irsay said they plan to let things play out.
“Whether it’s going to be the highest and all those sort of thing we’ll see how that goes,” Irsay said. “…I see Andrew here, God willing, for a really long time and this won’t be his last contract. With him at 26 years old, it’s going to be ringing the bell in terms of nine figures and that sort of thing.”
Irsay did, however, add that he’s hoping it will be a cap-friendly deal.
“To me it’s not a matter of what the number is going to be, but again, making sure that we have room to surround him with a championship football team and that it’s as cap friendly as it can be as we go through the end of this decade from 2016 to 2020,” Irsay said. “You want to make it cap friendly and you want to have the ability to possibly alter it as time goes on to help the cap in different things like that.”
Ian Rapoport of NFL Media reports that the Colts believe they can get a long-term extension in place with QB Andrew Luck at some point this offseason.
According to Rapoport, the Colts have as much confidence in Luck as their long-term quarterback as they ever have.
Colts owner Jim Irsay eluded to possibly getting an extension in the coming months not too long ago, so this shouldn’t come as much of a surprise.
“If we don’t get an agreement [this summer], we still have time. And he is going to be signed,” Irsay told the Indianapolis Star. “There’s a reasonably good chance we can come to that agreement this offseason. He will be here, trust me. Andrew and I have talked — we talked after the end of the season — and he couldn’t be more excited.”
Irsay admitted that having a quarterback like Luck increases the expectations to win Super Bowl titles.
“You know I’m demanding with my expectations, and I know the weight of having Andrew Luck,” Irsay said. “We want to get to the promised land, and I’m not shy about saying ‘more than once.’ We’d like to win two world championships when Andrew’s with us over these next 12 to 14 years.”
Luck recently said it would be “great” to get something done.
“Yeah, that would be great,” Luck said of a contract extension, via Mike Chappell of CBS4. “I haven’t thought about it too much. I wanted to make sure this season gets done.
“But if there’s an opportunity for it, yeah, absolutely.”
Luck, much like the Colts, had a very disappointing 2015 season that was marred by a number of injuries including a lacerated kidney and fractured ribs.
Many still anticipate that the Colts will lock him up to a massive contract extension at some point over the next few years. It will be interesting to see how much Luck’s next contract is worth, seeing as many expected him to set the record for quarterbacks moving forward.
Luck, 26, will be entering the final years of his four-year, $22.1 million contract in 2016 and will make a base salary of $16.155 million.
In 2015, Luck completed 55.3 percent of his passes to go along with 1,881 yards, 15 touchdowns and 12 interceptions over the course of seven games. Pro Football Focus has him rated as the No. 35 quarterback out of 37 qualifying players.
We’ll have more regarding a potential contract extension for Luck as the news is available.