Found this on CBS, report from SI.
I think it's huge, even though we're now 99.9% certain Indy is drafting A Luck (I would have went with 95% before the Mortensen report).
Knowing this, here are my predictions on what happens re: near-term direction of our Indy Hoisies:
--Option date is moved either to ~8/1 or ~9/1 to coincide with the start of camp or week 1.
--Colts re-sign Saturday, Wayne, Garcon and Mathis. Mathis and Garcon are signed long-term, Saturday and Wayne are going to be short 1 or 2 year deals (at least for realistic time with Indy) and probably will be loaded with lots of dead cap space in future years. Freeney re-does his contract and a lot of his '12 salary is turned into a bonus and the contract has a few years added. Clark isn't cut.
--Colts draft Luck. Irsay assures him he won't wait long to be starter.
--For the first time ever, LOS is packed like a cork for both preseason games as we want to see both QBs play, each for very different reasons.
--Manning is healthy or ~90% "looks like Peyton Manning". We sign the option deal. Indy has a season similar to 2 years ago and gets into the playoffs with 9 to 11 wins as Houston is the only competition. So Indy tries to win 3 playoff games, possibly 3 on the road to get to the SB. As we've seen with Pitt, NYG, and GB lately, all you have to do is get into the professional dance and it's anybody's game. So the Colts try to have Manning go out for a last hurrah of sorts and win the SB. Instead they probably only win 1 or 2 playoff games, but fans are satisfied. My secret wet dream is another SB of course.
--Indy trades Manning to a contender for a 1st rder and another pick. All the old guys are cut except for maybe Freeneey, and Indy goes fully into rebuild mode as they know they aren't making the playoffs with a rookie QB anyway.
--Indy is in cap hell for a couple years, but we don't care as it allows Luck to get all of his learning int's out of the way, and Indy lives out the dead cap hits, and wins 4 to 6 games for two years and slowly rebuilds with high draft picks.
--Indy is back in the AFC divisional playoffs, hopefully at home in 2015. Of the stud guys mentioned above, only Garcon and Mathis are still here. Freeney is probably too old and slow. Luck wins MVP in 2016.
Anybody else with me? Am I nuts? Am I dead on?
The only thing I don't know as far as this being feasible is how much cash Mathis and Garcon will require and if after we trade Manning after one last go-around, how the cap hit works. Does all of the guaranteed money from the rest of the $90 mill extension accelerate to then? If so, who cares, Indy is going to suck anyway with a new QB, so may as well go all out for sucking and get another top 5 pick like back in '98. Probably get 2 picks in the top 10 over 2 years.