Indianapolis Colts owner Jim Irsay drafted Andrew Luck with the No. 1 overall pick in 2012 in hopes of having a franchise quarterback after Peyton Manning departed. He got just that and rewarded Luck as such on Wednesday afternoon with a five-year extension worth around $140 million.
Luck will be in a Colts uniform until 2021.
When that day does come, Luck will be 32-years old and could be in line for another massive payday, depending how the next five years play out.
All indications lead to a vast majority of success in Indianapolis. He led the team to the playoffs in each of his first three seasons, including an AFC Championship game appearance in 2014. In those three years, Luck and the Colts won two AFC South titles.
Through his first four seasons as an NFL quarterback, Luck has thrown for 14,838 yards, 101 touchdowns and completed 58.1% of his passes. He has thrown his fair share of interceptions with 55. That is something that he will need to cut down on. He is also a threat running the football, in part to his 6’4”, 240-pound frame. He has rushed for 1,101 yards and 12 touchdowns. He has lost 12 fumbles in his career, but that is to be expected when he has been sacked 115 times in those four years.
Luck has played in 55 of the possible 64 games during his tenure as a Colt, he ran into the injury bug last season. Limited to just seven games last season due to a shoulder injury, a lacerated kidney and abdominal tear.
The amount of money Irsay gave to Luck is proof he believes he has his next great franchise quarterback. Luck will receive $87 million in guaranteed money. That’s a record for most guaranteed money ever given in league history. The previous high in guaranteed money was $65 million and both Eli Manning and Philip Rivers received that from their respective teams.
In comparison to other elite NFL quarterbacks who got substantial paydays, Aaron Rodgers got a five-year, $110 million deal from the Green Bay Packers in 2013 and Russell Wilson got a four-year, $87.6 million deal last summer. Irsay said he would have Luck signed before the start of the 2016 season and he came through on that.
If Luck can avoid further injuries and limit his turnovers, the Colts will be in Super Bowl contention for the foreseeable future. This is a high-risk, very high reward scenario for the Colts. Irsay took a chance on Luck four years ago by drafting him No. 1 overall out of Stanford and is betting on his quarterback to continue to fill the gigantic shoes left by Peyton Manning.