Owner: Colts Having 'Serious Talks' On New Andrew Luck Contract

Jim Irsay says both sides would like a deal sooner as opposed to later, but finalizing terms on quarterback might take until August.

The Indianapolis Colts are in the midst of serious contact discussions with quarterback Andrew Luck’s agent although owner Jim Irsay says a deal might not get done by July 4, as he had previously suggested.

Not that there’s any snag so far, but it’s complicated, Irsay said.

In a Saturday break from the NFL draft, Irsay met with reporters in the media work room and said his previous calendar date of July 4 on a Luck deal was “mentioned somewhat casually” as an attempt “to predict (or) guess the future.”

Luck is entering the final year of his contract and will count $16.155 million toward the salary cap in 2016, but a new extension is expected to be one of the NFL’s richest in history at $22-25 million per year.

“Serious talks have happened,” Irsay said. “The discussions we’ve had indicate we should be able to come to a deal. But until you do, we still have ground to cover, there’s no question about that.

“It’s a complicated contract. It’s one that has to work both ways to make sure we’re able to field a great football team where Andrew can be part of one or more championship teams. It takes time, but we’ve made real progress and I don’t see any reason why discussions can’t eventually before we get to training camp produce a new contract.”

Irsay reiterated both side are hoping “the sooner, the better” if possible. But the owner recalled hammering out a deal with former quarterback Peyton Manning during preseason.

“I think I remember doing Peyton’s last contract, I think we were in training camp when him and I talked to you guys,” he said. “I can’t remember the exact timing on that.

“Yeah, obviously before we get to training camp, we’d like to do that. There are times … you get to camp and you’re into the preseason and you still can get something done.”

When Luck reported for the first day of offseason training activities two weeks ago, the three-time Pro Bowl passer said he would like to see a deal finalized.

“I’d absolutely love to be here, get it done and move forward,” he said. “That being said, I really don’t spend that much time thinking about it. I have a great agent who’s also my uncle, so I probably talk to him too much (laughs). But I trust him to do a great job and we’ll see what happens.”

The NFL’s highest-paid quarterback is Baltimore’s Joe Flacco at $22.133 million per season.

Asked if he would be shocked by the numbers of a new contract, Luck didn’t have much to say.

“I don’t know,” he said. “I don’t know how to answer that.”

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