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Report: Colts aim to finish Luck extension by July

Andrew Luck and the Indianapolis Colts are working on a new contract and Mike Florio is here to give Luck some free advice about how he should negotiate the deal.

The Colts plan to have a contract extension for quarterback Andrew Luck done by July, NFL Network’s Ian Rapoport reported Wednesday.

The report said the sides have been “moving closer” over the course of several conversations that started in February and said it would be “no surprise” if the end result is a deal that pays Luck more than $25 million per year.

“When it’s the right time, it will get done,” Luck told NFL Network earlier this week. “I honestly don’t spend much time worrying about it.”

Joe Flacco of the Ravens is currently the league’s highest-paid quarterback at around $22 million. Luck is set to make a little more than $16 million in 2016 on the fifth-year option of his rookie contract.

Luck, 26, was limited to seven games last season by injury. He led the Colts to a mark of 11-5 and playoff berths in each of his first three seasons and has 101 career touchdown passes in 55 games.

Earlier this spring, Colts owner Jim Irsay backed away from a previous declaration that a new deal for Luck would be done by July 4 but still seemed confident that there would be no real roadblocks in getting it done.