According to Rapoport, the two sides are still on track to possibly get an agreement in place by July on a deal that would make Luck the highest-paid player in league history.
Rapoport mentions that it’s highly unlikely Luck would accept anything below the $22.13 million per year Ravens QB Joe Flacco makes. In fact, Rapoport adds that it wouldn’t be surprising to see Luck end up with $25 million per year in his next contract.
Sources have told Rapoport that Colts owner Jim Irsay originally wanted to sign Luck to a 10-year contract, which would essentially be a lifetime contract. However, he moved off of that stance and the two parties have reportedly been able to close the gap to some degree.
Last year, Luck dealt with shoulder injuries as well as a lacerated kidney that led to him appearing in just seven games. However, all indications are that this won’t have a major impact on contract talks with the Colts.
Luck, 26, was taken with the No. 1 overall pick back in 2012. He played out the final year of his four-year, $22.1 million rookie contract before the Colts picked up his fifth-year option that will pay him a salary of $16.155 million for the 2016 season.
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 long-term extension for Luck as the news is available.