According to ESPN’s Adam Schefter, the Indianapolis Colts are already working on a blockbuster mega contract for their star young quarterback Andrew Luck. While Luck isn’t slated to be a free agent until after the 2016 season due to a 5th year team option, the Colts have already begun working towards locking him up to a lucrative long-term contract:
The mega contract is expected to make Luck the recipient of the richest contract in NFL history. According to reports earlier this season, any reached contract between the two parties is anticipated to pay Luck anywhere between $24-25MM per year:
It will be interesting to see if both sides will mutually be able to reach an agreement on a new mega contract before Luck reaches free agency after the 2016 season, the last possible year of his rookie contract. However, it’s something that the Colts have known for a long time and have planned their salary cap situation for accordingly. Colts owner Jim Irsay will be prepared to write Luck a very large check, and he’ll have his franchise player under center for the horseshoe for presumably many years to come.
According to a recent report from Spotrac.com, one of the premier professional sports contract valuation websites, Luck’s contract extension is valued at around $22MM per year, given that Aaron Rodgers currently leads all NFL players with a $22MM annual salary. However, Luck is expected to far exceed that annual amount given the current NFL quarterback market, where the position is held at a premium and contracts continue to soar upward:
"“Luck is living up to the hype of not only his 1st overall pick status, but in following the footsteps of Peyton Manning in Indianapolis. The numbers have gotten better in each of his 3 NFL seasons, culminating to a 2014 campaign where he completed 62% of his passes for 4,700 yards, and a league-leading 40 TDs. It’s widely expected that the Colts will let Luck play out his rookie contract, including the 5th year option in 2016, so our snapshot valuation here might be moot, but he currently values right behind the annual average of Aaron Rodgers, who currently leads all NFL players at $22M.”"
With the nature of today’s NFL contracts too, it will be widely deserved. As quarterbacks like Joe Flacco, Colin Kaepernick, and Matt Ryan have all cashed in on mega-contracts in recent years, it will eventually be Andrew Luck’s turn too, who is a superior player. He’ll eventually be the NFL’s highest paid player, and quite frankly, he’s earned it. At age 25, he’s already among one of the league’s best quarterbacks.
It’s not an issue of if anymore, but rather when.
Oct 5, 2014; Indianapolis, IN, USA; Indianapolis Colts quarterback Andrew Luck (12) spikes the ball after scoring a touchdown against the Baltimore Ravens at Lucas Oil Stadium. Mandatory Credit: Brian Spurlock-USA TODAY Sports