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Colts, Andrew Luck reportedly reach financial settlement; team won’t recoup money owed

Jesse Reed
Trevor Ruszkowski-USA TODAY Sports

The Indianapolis Colts are showing Andrew Luck the same class he showed the organization during his career — unlike some of their fans — and will not recoup any money he would have owed following his retirement announcement.

ESPN’s Adam Schefter reported the two sides have come together on an agreement in which Indy is leaving $24.8 million in Luck’s pocket — money the Colts could have recouped if they had chosen to pursue it.

Schefter broke it down like this: “Luck could have owed the Colts $12.8 million as a pro-rated portion of the $32 million signing bonus the Colts gave him when he signed his five-year extension in 2016, and another $12 million in roster bonuses he was paid in March. But Indianapolis waived its right to recoup the money and is allowing Luck to keep it all, after the poundings he’s taken and all he’s given to the franchise. It is, in an official way, his parting gift.”

Luck was the first overall pick in 2012 out of Stanford. He led the Colts to a record of 53-33 in his 86 career starts, along with playoff berths in four of the six years in which he was the starter.

Even with this generous financial settlement, Luck is leaving millions on the table by walking away from the game. Colts owner Jim Irsay said after Luck officially announced his retirement that the quarterback likely left around half a billion dollars on the table by retiring now.

“It’s a tough thing, look it, he’s leaving $450 million on the table potentially,” Irsay said. “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 (wide receiver) 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.”

But he seemed at peace with that decision during his press conference Saturday night, and despite an injury-riddled past four years he is young enough to enjoy his life, and to get healthy going forward.