Colts Sign QB Andrew Luck To New Six-Year, $140M Contract

June 29, 2016

Colts owner Jim Irsay announced Wednesday that they’ve signed QB Andrew Luck to a contract extension that will keep him under team control through the 2021 season.

According to Irsay, Luck receives a brand new six-year, $140 million contract.
Adam Schefter reports that the contract includes $87 million guaranteed for injury.
At signing, Luck receives $47 million fully guaranteed, which includes a staggering $44 million to be paid out in just 2016, per Dan Graziano.
Albert Breer reports $60 million of Luck’s contract will be fully guaranteed in March of 2017 to go along with $81 million in March of 2018 and another $87 million March of 2019.
Luck is now the highest paid player in the NFL.

Irsay released a statement regarding Luck’s new contract:

“Andrew is the consummate professional, possesses extraordinary talent and is our leader on and off the field. When you consider what this team has accomplished in four seasons with Andrew under center, you cannot help but be thrilled about the future.”

Here’s a statement from Luck:

“I am thrilled and excited to continue with this great organization. I am thankful to the Irsay family and Mr. Irsay for providing me with this great opportunity and the trust that they’ve shown in me. I can’t wait for this season to start.”

The Colts said previously that they were to hoping to have a new contract in place for Luck at some point this summer, and it looks like they managed to get it done in advance of training camp.

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.

Last year, Luck dealt with shoulder injuries as well as a lacerated kidney that led to him appearing in just seven games. However, the Colts made a serious attempt to upgrade their offensive line, using four draft picks on offensive linemen in the hope of protecting him in the coming years.

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.