According to the Herald Bulletin’s George Bremer, the Indianapolis Colts haven’t begun contract negotiations with star quarterback Andrew Luck this offseason, but plan to soon:
Grigson says #Colts haven't begun contract talks with Andrew Luck. Expects to soon.
— George Bremer (@gmbremer) February 25, 2016
Entering next season, Luck is playing on the last remaining year of his rookie contract, which will pay him $16.12 million.
However, the Colts are “confident” that they can get a new extension done this offseason, and both sides remain hopeful that a new deal can be reached relatively soon.
It’s been speculated that Luck’s new contract could pay him as much as $25 million annually and set an unprecedented total amount of his contract that is fully guaranteed–a rarity in today’s NFL.
The NFL’s highest paid player in the Green Bay Packers Aaron Rodgers is currently making $22 million annually, while the Seattle Seahawks Russell Wilson just signed a 4-year, $87.6 million deal that will pay him $21.9 annually.
Recently, Spotrac projected Luck’s fair market value at $18.6 million annually on his next contract–although he should far exceed that number with his new Colts deal.
One thing that could possibly inflate Luck’s next contract is whether Denver Broncos soon-to-be free agent quarterback Brock Osweiler gets significantly overpaid on his next contract, as that would only increase Luck’s price-tag (and rightfully so).
Either way, it’s looking increasingly likely that Luck will become the highest paid player in NFL history, as team owner Jim Irsay recently said that he expects Luck’s contract to contain a “shocking number”.
Fortunately, you and I aren’t footing the bill. We just have the luxury of watching #12 play on Sundays.