The Indianapolis Colts have signed quarterback Andrew Luck to a contract extension that keeps him with the team through 2021:
Colts signed Andrew Luck through 2021.— Adam Schefter (@AdamSchefter) June 29, 2016
Luck was the first overall pick in the 2012 NFL Draft. Cleveland Browns quarterback Robert Griffin III was the second overall pick by the Washington Redskins, but was released by Washington this offseason. He signed a two-year, $15 million deal with Cleveland.
The third quarterback selected in that Draft was the Miami Dolphins’ Ryan Tannehill. Miami originally utilized the fifth-year option for Tannehill in May 2015, then continued to work out a long-term extension for their quarterback, keeping him with the team through the 2020 season. The $96-million deal included $77 million in new money and pays him an average of $19.25 million per year over the 2015 through 2020 seasons.
Before Luck’s contract, Tannehill was the 12th highest paid quarterback in the league, based on per-year average. Luck’s contract, for which details have not yet been released, will likely jump him into the top level of the quarterbacks, where Joe Flacco currently sits at number one with $22.13 million per year.
Update (3:36pm ET):
On his 5-year extension, #Colts QB Andrew Luck is now the highest paid player in the NFL, source said. Puts him over Joe Flacco's $22.1M.— Ian Rapoport (@RapSheet) June 29, 2016
#Colts QB Andrew Luck's 5-year extension pays him $75M over the first 3 years, source said. Slightly less over final 2 years.— Ian Rapoport (@RapSheet) June 29, 2016
Update (3:40pm ET):
Most 3-Year Cash— Spotrac (@spotrac) June 29, 2016
Andrew Luck: $75M (reported)
Eli Manning: $68.5M
Philip Rivers: $68M
Cam Newton: $67.6M
Ben Roethlisberger: $65M
Update (3:48pm ET):
Note: Ryan Tannehill’s record should be 29-35. The graphic above clearly incorrectly uses his 2015 record as his career record.
Update (3:50pm ET):
When final details are tallied, Andrew Luck's five-year extension is expected to come in around $125 million, give or take a few million.— Adam Schefter (@AdamSchefter) June 29, 2016
Update (4:00pm ET):
Details on Andrew Luck deal:— Adam Schefter (@AdamSchefter) June 29, 2016
5-year extension (6-year deal).
Just north of $139 million (a record).
$87 million in guarantees (a record).
Six years, $139 million works out to $23.17 million per season. In comparison, Tannehill is $19.25 million and Dolphins defensive tackle Ndamukong Suh’s contract signed last year is worth $19 million per season ($114 million over six years).
Update (4:06pm ET):
And one of the best parts of the deal for Andrew Luck. Scheduled to be a free agent again at 32. Another big bite of the apple awaits.— Adam Schefter (@AdamSchefter) June 29, 2016