Andrew Luck Contract: Latest Rumors and News on Negotiations with Colts

Andrew Luck and the Indianapolis Colts are reportedly working on a new contract that could be the biggest in the league.

Continue for updates.

---

Should Luck Be Paid More Than Russell Wilson?

Monday, Jan. 27

Bleacher Report NFL analyst Chris Simms discussed who he thinks should be paid more between Andrew Luck and Russell Wilson:

---

No Agreement Imminent Between Colts, Luck

Monday, Jan. 26

Stephen Holder of The Indianapolis Star provided a statement from Luck discussing the potential contract extension during Pro Bowl weekend:

"

There's nothing there right now. I didn't think about it all during the season and it's only been a few days since it ended. I haven't thought about it. I will have conversations with my agent just because you have to prepare, but I'm not sure where that report came from.

"

Holder also weighed in on the potential extension and the ramifications such an agreement could have on Colts owner Jim Irsay:

"

This is admittedly speculative on my part, but if the Colts were to extend Luck now, there might be 31 other NFL owners upset with Colts owner Jim Irsay. The Colts extending Luck now would likely open the door to other players in his situation asking for early extensions, too. In the NFL, contract negotiations are based largely on precedent. And this is not one most NFL owners would like to set.

Worst case scenario, Luck will earn $3.4 million in 2015, a great deal for a player of his caliber, but a reality under today's rookie salary rules. If things stay status quo, the Colts had better enjoy it. Because Luck is going to break the bank soon enough.

As outlined here, it's not a matter if, but when.

"

On Sunday, Holder reported no agreement was imminent between Luck and the Colts as the two sides work on a new contract.

While no agreement is imminent, Adam Schefter of ESPN has reported that the deal could pay the quarterback around $25 million a season.

---

Cole Weighs In on Luck's Next Contract

Tuesday, Jan. 20

Jason Cole of Bleacher Report passed along what he was hearing about Andrew Luck's next contract in Indianapolis:

---

Luck, Colts Working on Mega Deal

Sunday, Jan. 18

Fresh off dispatching the man he replaced in Indianapolis, some are saying Andrew Luck is becoming the best quarterback in football. The Colts are apparently preparing to pay him like it.   

ESPN's Adam Schefter reported Sunday that Luck's new deal could be the biggest in the NFL:

Schefter later reported that the deal could be worth around $25 million a year.

After the Colts' 45-7 loss to the New England Patriots, Jim Irsay commented on Luck's contract via Stephen Holder of the Indy Star: "I'm not going to discuss Andrew's contract. That's not something that is really at the top of my mind. He just finished his third year. It's a five-year deal, so, again, that's not in my thought process right now."

Luck, 25, was the top overall pick in 2012. Taking over for Peyton Manning, the Stanford grad has been everything the Colts hoped and more. He's led them to three straight playoff appearances, including their first AFC Championship Game since 2009.

Despite his tremendous early success, Indianapolis is still searching for a way to make it over the hump and reach the Super Bowl. The Colts were blown out by the New England Patriots in the AFC Championship game as they underperformed in all phases.

Bleacher Report NFL Analysts Chris Simms and Jonathan Vilma discussed which areas the Colts need to address most in order to help Luck reach the top:

Luck set career highs across the board in 2014, throwing for 4,761 yards and 40 touchdowns against 16 interceptions. Football Outsiders' DVOA metric ranked him the 12th-best quarterback in football, but that may be underselling what he brings to the table. The Colts' supporting cast could nicely be described as below-average, with T.Y. Hilton their only skill-position player of a Pro Bowl caliber.

"He's got a lot of strengths, no weaknesses," Patriots head coach Bill Belichick told reporters during a news conference on Wednesday. "He's got a great future in front of him. He's already done a lot in the time that he's been in the league, and I'm sure by the time he gets done he can pass a lot of guys by."

If the Colts sign Luck now, they'll actually be doing him a favor. His rookie deal calls for a salary of only $3.4 million in 2015, a pittance compared to most franchise quarterbacks. It's possible Indianapolis chooses to keep the framework of the 2015 contract in place as part of an extension. Any deal cannot be finalized until the new league year starts in March, per Schefter, but the front office appears to be working in good faith to keep its star happy.

That's probably a smart move. Luck, while not the best quarterback in football now, may be getting there soon. Manning could retire this offseason, and his opponent Sunday, Tom Brady, likely isn't far behind. Either way, the only contemporary in Luck's league as a passer is Russell Wilson, who is asked to do less in Seattle's offense.

The Colts franchise has always looked out for its stars, Manning being the most obvious recent example. It's unsurprising they'd do the same for Luck. 

Follow Tyler Conway (@tylerconway22) on Twitter