Colts owner Jim Irsay told reporters on Tuesday at the owners meetings that he’s hoping to a long-term extension in place for QB Andrew Luck by July 4, per Mike Garafolo.
Zac Keefer guesses that Luck will secure a five-year extension worth $125 million from the Colts when all is said and done.
The Colts have made it clear that they plan to address Luck’s contract sooner than later, and the expectation has been for some time now that Luck will end up being the highest paid player in league history.
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.