Colts owner says Luck deal 'getting close'
Indianapolis Colts owner Jim Irsay announced on his Twitter account that negotiations between the team and No. 1 draft choice Andrew Luck to strike a deal for a contract are "getting close."
NBC Sports' Pro Football Talk reported that the money part of a contract is pretty set for Luck, who starred at Stanford. He will receive a fully-guaranteed four-year contract worth about $24 million. The team will hold an option for a fifth year at a salary equal to the transition tag for quarterbacks in 2016.
What is likely hanging the deal up is the schedule for the payout of his signing bonus.
The Sports Xchange previously reported that Luck is seeking a more favorable payout schedule than has been offered by the Colts.
The rookie wage scale formula dictates that Luck will receive the same signing bonus, $14,518,544, that Cam Newton got from the Carolina Panthers as the top overall draft choice a year ago.
Newton's bonus was meted out by Carolina in two 50-50 installments and Luck is either bargaining for a different split or timing that is more advantageous for him.
