Sources: Colts will not recoup cash from Luck

Although they might have recouped $24.eight million from their former quarterback, the Indianapolis Colts have reached a monetary settlement with Andrew Luck and won’t take again any of the cash they’re owed, league sources inform ESPN.

The Colts basically are telling Luck to maintain all of it, regardless that it’s inside their rights to reclaim the cash.

The settlement was reached late final week, in keeping with a supply conversant in the talks.

Luck may have owed the Colts $12.eight 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 one other $12 million in roster bonuses he was paid in March. However Indianapolis waived its proper to recoup the cash and is permitting Luck to maintain all of it, after the poundings he is taken and all he is given to the franchise. It’s, in an official means, his parting reward.

Shortly after the information of Luck’s retirement broke Saturday night time, Colts proprietor Jim Irsay estimated Luck may be shedding out on a half-billion in potential NFL wages by retiring now.

“It is a robust factor, look it, he is leaving $450 million on the desk doubtlessly,” Irsay stated. “I imply, a half a billion , and he is saying, ‘You understand what, I need to have my integrity. I’ve to have the ability to look (broad receiver) T.Y. (Hilton) within the eye, look my teammates, look coach, look (GM) Chris (Ballard) and say, I am all in,’ and he simply did not really feel he may try this.”