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Nothing Imminent Between Colts & Andrew Luck Regarding Extension

Stephen Holder of the Indianapolis Star is “convinced” that nothing is imminent between the Colts and QB Andrew Luck regarding a long-term contract extension.

This comes after Holder spoke to Luck and heard GM Ryan Grigson discuss the issue on Friday.

ESPN’s Adam Schefter previously reported that the Colts have been working on the perimeters of a “blockbuster mega deal” contract extension for Luck that would leave him as the highest paid player in the league.

Since then, Jason Cole of the Bleacher Report has added that the new contracts for Luck and Seahawks QB Russell Wilson could include anywhere from $50 – $70 million guaranteed.

As of now, Packers QB Aaron Rodgers holds the title as the highest-paid quarterback, with his five-year, $110 million contract that includes $54 million guaranteed and an annual salary of close to $22 million.

It shouldn’t come as much of a surprise to hear that a deal isn’t close between the Colts and Luck seeing as this is likely to be a record-setting contract and there is still plenty of time for the two sides to get a long-term deal in place.

The Colts will obviously pick up Luck’s fifth-year option in the coming months that will pay him the average of the top-10 salaries for his position. This option isn’t guaranteed and won’t prevent them from hammering out a long-term deal.

There is actually much more pressure on the Seahawks as they don’t have the ability to pick up an option on Wilson.

With this in mind, it’s more likely that the Colts would wait until the Seahawks lock Wilson up long-term and see where things stand at that point.

Panthers QB Cam Newton is also due for an extension, so it’s really to Indianapolis’ advantage to wait and see what the market looks like.

Luck, 25, will be entering the final year of his four-year, $22.1 million rookie contract and stands to make a base salary of $3,404,727 for the 2015 season.

In 2014, Luck threw for 4,761 yards while completing 61.7 percent of his passes to go along with 40 touchdowns and 16 interceptions. Pro Football Focus has Luck rated as the No. 9 quarterback out of 39 qualifying players.