INDIANAPOLIS -- Colts owner Jim Irsay said Wednesday evening that he would be "surprised" if the team did not agree to a contract extension with franchise quarterback Andrew Luck before the start of training camp late next month.
"Really good conversations," Irsay said at the end of the team's open practice at Lucas Oil Stadium. "Obviously his uncle Will is a lawyer and has represented him from the beginning. We have a great relationship and I see something getting done. It's not easy. It's obviously going to be a big number, and we want to make sure the contract is something that's Colt-friendly as we approach even the next decade."
Since the end of last season, Irsay has been adamant that he plans to lock Luck, who is headed into his fifth season, into a nine-figure contract extension.
There's a possibility that Luck will become the highest-paid player in the NFL with his new contract. Baltimore quarterback Joe Flacco currently has the highest average-per-year contract at $22.13 million. Luck will play out the final year of his rookie contract ($16.1 million) if the two sides for some reason can't agree to an extension.
"I think there's been a really good element of compromise [from] both sides," Irsay said. "Look, we went into it knowing that this is going to be a big contract and a big deal and all those things. We didn't hide any cards that way. I think there's been compromise on both sides.
"... I think that in the end, you guys know what it's about. It comes down to the debate in the negotiations of years, total number, total guarantees and those sorts of things and obviously how it relates to the cap. But I haven't seen anything that's just been a problem, that's going to hold it up. And I see progress being made."
Irsay shot down a report that he wanted Luck to sign a 10-year contract.
"We didn't get down that lane," the owner said. "That wouldn't be accurate. That would be a reach and it would be hard to predict that far down the track. We weren't aiming in that direction and they didn't volunteer to."
Luck led the Colts to the playoffs in each of his first three seasons, including back-to-back undefeated seasons in the AFC South, before having his fourth season limited to only nine games because of an assortment of injuries, including a lacerated kidney. He threw 15 touchdown passes but committed 13 turnovers in the seven games he played in 2015.