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Colts Exercise Fifth-Year Option for Quarterback Andrew Luck

The Indianapolis Colts have picked up the fifth-year option for quarterback Andrew Luck, meaning that he's now under contract with the team through 2016.

Andrew Weber-USA TODAY Sports

The Indianapolis Colts today announced a roster update that was as much of a no-brainer as possible: the team has exercised the fifth-year option for quarterback Andrew Luck, meaning that he is now under contract with the Colts through 2016.

The fifth-year option is something that is new under the rookie wage scale and is for first round picks, as the team that drafted the player in the first round has the option to add a fifth year to that deal.  The Colts did this last year with left tackle Anthony Castonzo (their first round pick in 2011), and now they've done it again with Andrew Luck (their first round pick in 2012).

According to CBS Sports analyst and former agent Joel Corry, the fifth-year number for a quarterback drafted in the top ten of the 2012 draft is $16.155 million - meaning that is the number of Luck's fifth year option.  With that said, however, it's no guarantee that Luck will even make it to that fifth year of his rookie deal before getting a huge contract extension.  And if I had to guess, I'd think that an extension that would give Luck somewhere around $25 million a year is coming next offseason - which would replace this fifth-year option.  But it was a no-brainer move for the Colts to exercise this option regardless of when they decide to extend Luck more long-term.

Through his first three years with the Colts, Andrew Luck has been nothing short of tremendous, emerging as one of the league's top quarterbacks.  He has not missed a single game and has completed 58.6% of his passes for 12,957 yards and 86 touchdowns versus 43 interceptions, while also adding 905 yards and 12 touchdowns rushing.  He has helped lead the Colts to three straight 11-win seasons and three straight playoff appearances, two straight division titles, and an AFC Championship game berth a year ago.  Luck is the Colts' franchise player and already one of the best quarterbacks in the league, which made the decision on his fight-year option a no-brainer and simply a formality which the Colts have now made official.