Irsay: Luck’s deal worth $140 million over six years

AP

The Colts and quarterback Andrew Luck managed to conceal from the media Luck’s new deal until it was announced by owner Jim Irsay. They won’t be able to conceal every dollar and cent paid to Luck.

Inevitably, the contract will be filed with the NFL and the NFL Players Association, and the details will be leaked not by the Colts or Luck’s camp but by someone with routine access to all player contract.

The key factors to assess will be the signing bonus, the full guarantee at signing, and the cash flow over the first three years.

For now, the total value has been announced, also by Irsay: Six years, $140 million. That’s an average in total value of $23.3 million and a “new money” average of $24.7 million.

Adam Schefter of ESPN reports that $87 million is guaranteed, but it’s highly, highly, highly (did I say highly?) unlikely that $87 million is fully guaranteed at signing. At best, Luck has $87 million guaranteed for injury.

The deal is solid, but hardly the “shocking” transaction Irsay once promised. The only real surprise is that Luck didn’t get to $25 million per year in total value, which given cap growth over the past few years is where the top value for quarterback deals should be.

Luck also wasn’t able to tie his salary in the out years to cap growth (it’s unclear if his agents even tried), meaning that at some point over the next six years, if the cap keeps spiking, the deal won’t look nearly as good as it does now.

Bottom line? Luck didn’t push for every penny he could have gotten, trading six years and $140 million for the $114 million or so he could have made by going year to year under the franchise tag through 2019.

For now, the biggest question is when, as a practical matter, he’ll be a year-to-year deal with the Colts — and how much he’ll pocket before he gets to that point.

43 responses to “Irsay: Luck’s deal worth $140 million over six years

  1. Bottom line? Luck didn’t push for every penny he could have gotten, trading six years and $140 million for the $114 million or so he could have made by going year to year under the franchise tag through 2019.
    _______________

    Going year to year?? Have you watched any Colts games? Luck would have been insane to go year to year behind a Grigson built o-line.

  2. honkeyt says:
    Jun 29, 2016 4:10 PM
    Carr is better and will take less to help the team when the time comes.

    ——————————–

    I know recency is everything when it comes to NFL fans, but this is stupid. It’s not like Luck is some greedy, me-first player holding the team hostage. This deal is actually pretty reasonable considering what everyone was expecting him to be paid. Whatever you think of Luck as a player, he’s a class act.

  3. And people think Flacco’s overpaid?? get some wins and stay healthy and he MAY be worth the money.

  4. So I guess the new norm in the NFL is to vastly overpay a QB. And a QB that really hasn’t done anything to deserve it. Don’t get me wrong, I like Luck. But this kind of money for a QB with 15 career TDs and 12 INTs?

  5. Ridiculous amount of money for a non-elite QB. That being said, good for the Colts, they won’t be able to field a full competitive team for the next 6 years.

  6. Worth every penny!

    He’ll be the NFL comeback player of the year in 2017.

  7. Seems like a good deal, and will look even better as time goes on. It should leave some space available for them to sign new players in FA as the years go on and the cap increases. I think it’s a good deal for both sides.

  8. Hiring your bumbling, can’t draft skat, son-in-law while you stay anything but a sober owner.
    Priceless
    Feel the hits a comin’ Andrew?

  9. Seems like an awful lot of cash for a player with the 16th best passer rating among active qb’s.

  10. Manning didn’t win a playoff game until his 5th season and lost 41-0 to the Jets in a playoff game. I guess he was destined to be garbage too right patriot clowns? Luck has already done more with a much weaker squad than what Manning had surrounding him in his first 5 seasons. Didn’t every patriot fan guarantee that Luck would hold out and never resign with the Colts? Nice prediction geniuses. All of these haters would do anything to have Luck on their team so keep crying, the tears are delicious

  11. With all that money tied up. they can’t field a very competitive team.

    Luck has flashes, but inconsistent, breaks easily, and as stated earlier, out by ’19

    Middle of pack at best.

  12. logast says:
    Jun 29, 2016 4:23 PM
    So I guess the new norm in the NFL is to vastly overpay a QB. And a QB that really hasn’t done anything to deserve it. Don’t get me wrong, I like Luck. But this kind of money for a QB with 15 career TDs and 12 INTs?

    I know you went and googled his career stats. I did after I read this. The 15 TD and 12 Ints was the first thing that popped up. Unfortunately, that’s not his career numbers. They are 101 TD’s and 55 Int. 2014 was impressive: Passing yards–4761, TD’s–40, INT–16

    I have no opinion on Luck. I’m not a fan of the team he is on, and he isn’t on a rival team. But, please try to read a little more into your google results.

  13. If it gives him less need to go on tv and flick beard shavings on old people I am all for it.

  14. Every time any NFL player gets paid you get people criticizing it. Why????

    At some point after you’ve expressed shocked about an NFL player getting a big contract and claiming they were ocer paid for the 1,000th time…..at some point maybe it’s not the NFL players that are overpaid that’s the issue but rather it’s your poor understanding of the player market in the NFL that’s the issue.

    By the way if Luck were a free agent he might have gotten $28-30 million per year.

  15. thermanmerman99 says:
    Jun 29, 2016 4:36 PM
    Didn’t every patriot fan guarantee that Luck would hold out and never resign with the Colts? Nice prediction geniuses.
    ************************************************

    Oddly enough, I don’t recall hearing much about it from Patriot fans either way, but whatever nonsense lets you sleep at night…

  16. come on give it to Indy like Balto got it
    Luck is sure not all that.

  17. Every time there’s an article about a big contract a lot of nonsense gets spewed about guys being over paid and cap hell being created. Someone is worth whatever a team is willing to pay them. Whether or not they get commensurate value for their money is something no one will know until at least a couple of the new money years have gone by. As for ‘cap hell’ for all the teams we have heard were going to be in it how many have been without also having significant dead money on the books? Even the Saints, for all the noise we have heard about Brees’ contract, are far more crippled by dead money than active contracts. It is impossible to fairly gauge a new contract from a cap and value standpoint in real time, where neither future play or the future cap % is a given. The only thing that can truly be said of it is obviously the team and player are both satisfied with it.

  18. And Seattle got slammed online over Wilson’s contract.
    87 million guaranteed is ridiculous imo , but congrats Colts fans.

  19. @pats777

    They paid the deflator off with a lifetime membership to jenny craig

  20. This guy is still getting paid for what he did in college and his draft status. He is a turnover machine and hasn’t fulfilled his potential. I would take Carr over him in a hear beat.

  21. I’m sorry but Andrew Luck is probably the most overhyped QB in NFL history. Since the 2011 NFL season when he was the presumptive #1 pick he has been heralded as the biggest draft lock since Elway.

    Really in the four seasons that he’s been in the league does anyone actually believe that he’s been a top 5 QB at any point?

    Trying him to the largest deal in NFL history is a bit much but I’m not surprised. Dude is basically destined to be surrounded by mediocre talent with the deal he got.

  22. The deal will be more reasonable in 3 years when the cap is much much higher. You have a viable franchise qb – keep him. Don’t be the Jets and always a QB away from competing for a Super Bowl.

  23. honkeyt says:
    Jun 29, 2016 4:10 PM
    Carr is better and will take less to help the team when the time comes.

    ——————————–

    “I know recency is everything when it comes to NFL fans, but this is stupid. It’s not like Luck is some greedy, me-first player holding the team hostage. This deal is actually pretty reasonable considering what everyone was expecting him to be paid. Whatever you think of Luck as a player, he’s a class act.”

    I never said he was greedy. I stated and opinion. Luck is a fantastic QB and great dude.

    By the way, I am just having fun. It’s a blog for Christ sake. Relax…..

  24. “For now, the biggest question is when, as a practical matter, he’ll be a year-to-year deal with the Colts”

    No, the biggest question is when are the Colts going to invest in an offensive line capable of not getting this guy killed. He has taken an absolute beating his first couple of years in the league.

  25. At least with Russell Wilson he had already WON a superbowl by the time he got his contract…which was for much less by the way.

    Russell’s contract looks more and more team friendly doesn’t it…so we could pay Doug Baldwin.

  26. Any rational person looks at this and smh… I guess many will ask their bosses for a new contract now because they had excuses before and why they sucked, but have ‘potential’…

    “just give me a few years, you’ll see boss, I will be sooo much better, and if not, hey at least I participated”…

    with this kind of legal gambling, who needs betting rules?

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