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re: Andrew Luck signs 5 year extension: $75 mill over first three years
Posted on 6/29/16 at 3:38 pm to TechDawg2007
Posted on 6/29/16 at 3:38 pm to TechDawg2007
Irsay: Luck’s deal worth $140 million over six years
Posted by Mike Florio on June 29, 2016, 4:06 PM EDT
NBC Sports
Luck gets $44 million fully guaranteed at signing
Posted by Zac Jackson on June 29, 2016, 5:06 PM EDT
NBC Sports
Posted by Mike Florio on June 29, 2016, 4:06 PM EDT
NBC Sports
quote:
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.
Luck gets $44 million fully guaranteed at signing
Posted by Zac Jackson on June 29, 2016, 5:06 PM EDT
NBC Sports
quote:
It was a matter of when, not if, Colts quarterback Andrew Luck would get a really big contract.
That day was Wednesday.
Per a source, Luck got a $32 million signing bonus on the extension that keeps him with the Colts through 2021. With his 2016 base salary set to be $12 million, Luck gets $44 million fully guaranteed at signing.
Colts Owner Jim Irsay announced the deal at $140 million over six years. That means Luck will be the league’s highest-paid player and will make an average of about $23.3 million per year over the duration of the contract.
Luck said in a team statement he was “thrilled and excited” to get the deal done.
This post was edited on 6/29/16 at 4:48 pm
Posted on 6/29/16 at 3:43 pm to Mrwhodat
quote:
That’s an average in total value of $23.3 million
Yeah let's go with that.
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