Andrew Luck and Indianapolis Colts Reportedly Agree on Rookie Contract

Alex Kay@AlexPKayCorrespondent IJuly 19, 2012

Andrew Luck has finally signed a contract with the Indianapolis Colts, according to Indianapolis Star Colts beat writer Mike Chappell.

IT'S DONE.#Colts sign Andrew Luck.

— Mike Chappell (@mchappell51) July 19, 2012

Colts owner Jim Irsay later tweeted a picture of Luck signing his contract:

12 is officially signed!!!!!!…

— Jim Irsay (@JimIrsay) July 19, 2012

Will Wilson, Luck’s agent, has been working with the team for some time now to get this deal done, and Jim Irsay took to Twitter back on June 2 to proclaim that his organization was "getting close" to finalizing the signing.

It took long enough, but Luck finally inked a four-year deal, expected to be worth about $22 million, which is comparable to what Cam Newton received last year from the Carolina Panthers as the No. 1 pick. The former Auburn star and Heisman winner put his signature on a four-year contract worth $22 million guaranteed and picked up an additional $14.5 million via signing bonus.

The former Stanford star has been back on campus this summer working on finishing up his degree in architectural studies and missed some optional organized team activities in favor of academics.

However, he finished finals and has been participating with the 90-man roster for mandatory practice since it began on June 12.

Luck will finally be compensated for the hard work he has been putting in with the team and is likely going to be the starter on opening day. The franchise needed to get this contract done, and all parties should be glad it is now behind them.