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Report: Luck, Colts aiming to get extension done by July

Thomas J. Russo / USA TODAY Sports

The Indianapolis Colts and star quarterback Andrew Luck are making progress on a contract extension, with the deal expected to be agreed upon by July, sources told Ian Rapoport of NFL Network.

The contract is still expected to make Luck the highest-paid player in the league, meaning the deal will exceed Baltimore Ravens quarterback Joe Flacco's average yearly salary of $22.13 million.

A mark of $25 million per year would be no surprise, according to Rapoport.

The Colts are reportedly seeking a five- or six-year extension, but apparently owner Jim Irsay was initially looking to do something much more unprecedented.

Irsay was hoping to get Luck to sign a 10-year contract, sources told Rapoport, essentially locking him down for all of his prime years.

However, the Colts backed off that idea, instead negotiating for the more common length of contract, which reportedly allowed the two parties to become closer in their expectations about the deal.

Luck's disastrous 2015 campaign was dominated by turnovers, poor play, and injuries, but he's still considered by many to be one of the top franchise passers in the league.

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