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Irsay expects Luck’s contract to be finalized “swiftly”

Indianapolis Colts owner Irsay introduces the team's number one NFL draft pick Luck in Indianapolis

Indianapolis Colts owner Jim Irsay (L) introduces the team’s number one NFL draft pick, quarterback Andrew Luck during Luck’s initial news conference in Indianapolis April 27, 2012. REUTERS/Brent Smith (UNITED STATES - Tags: SPORT FOOTBALL)

Reuters

The Colts have already begun contract talks with new quarterback Andrew Luck, and owner Jim Irsay confirmed that he envisions no hiccups on a deal with the No. 1 overall pick.

“It’s something that should be done swiftly,” Irsay told the Indianapolis Star. “There shouldn’t be a difficult process with that.”

Luck’s contract is expected to “mirror” 2011 No. 1 overall pick Cam Newton’s. The Panthers signed Newton to a four-year, fully guaranteed $22.025 million deal late last July, after the lockout ended.

Newton’s signing bonus was $14,518,544.

“It’s not complicated,” Irsay explained. “There’s no incentives. ... Four years with the fifth year as an option.”