The Indianapolis Colts could've regained $24.8 million from now-retired quarterback Andrew Luck. But, according to ESPN's Adam Schefter, the team has reached a financial settlement in which the Colts will not take back the money owed to Luck.
Jim Irsay and the Colts are doing right by Luck. They have the rights to take back the money, but they don't see it necessary and are instead allowing him to keep it. According to Schefter, the team and the former quarterback reached the settlement to do so last week.
The Colts signed Luck to a massive five-year $140 million extension with $87 million guaranteed in 2016. The deal included a $32 million signing bonus. Luck, before the settlement, would've owed the team $12.8 million as a pro-rated portion of the bonus and $12 million as a roster bonus he collected in March of 2019, per Schefter.
Instead of asking for their money back, the Colts are rewarding Luck for his hard work and dedication to the team since 2012. It's his retirement gift after the injuries, hits, and disappointing moments in Indianapolis. But, Irsay knew he could've made much more throughout his career, as he said last night, shortly after the announcement,
“It's a tough thing, look it, he's leaving $450 million on the table potentially,” Irsay said, per ESPN. “I mean, a half a billion dollars, and he's saying, ‘You know what, I want to have my integrity. I have to be able to look T.Y. [Hilton] in the eye, look my teammates, look coach, look [GM] Chris [Ballard] and say, I'm all in,' and he just didn't feel he could do that.”
In the end, money isn't a concern for Luck. Rather, it's his mental and physical health. However, the settlement should allow him to travel the world with a fatter wallet.
Follow Us
Subscribe