Andrew Luck, Colts 'Getting Close' On Contract, Says Jim Irsay

May 4, 2012; Indianapolis, IN, USA; Indianapolis Colts quarterback coach Clyde Christensen watches quarterback Andrew Luck (12) throw a pass during minicamp at the Indiana Farm Bureau Football Center. Mandatory Credit: Brian Spurlock-US PRESSWIRE

Indianapolis Colts owner Jim Irsay tweets that the team is nearing a deal for first-round pick Andrew Luck.

The Indianapolis Colts are progressing toward a deal with the No. 1 overall pick of the 2012 NFL Draft, Andrew Luck. This is the second round of rookie negotiations under the NFL's new Collective Bargaining Agreement, and Luck's deal is expected to be worth slightly more than Cam Newtown's contract in 2011. Colts' owner Jim Irsay tweeted Saturday afternoon that the club was "getting close" to finalizing the deal with Luck, via @JimIrsay:

Newton's deal was for a total of $22 million over four years, with all of it guaranteed. Luck's deal will likely be a four-year contract worth around $23 or $24 million, with an estimated $16 million signing bonus. Luck and the tight-end pairing of Coby Fleener and Dwayne Allen remain the only Indianapolis draft picks that are unsigned.

For more on the Colts and their negotiations with No. 1 pick Andrew Luck, visit Stampede Blue.

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