Jim Irsay wants Andrew Luck’s contract extension in place by July 4

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Andrew Luck under center (file image)

INDIANAPOLIS, Ind. (March 22, 2016) – Indianapolis Colts owner Jim Irsay has a target date in mind for Andrew Luck’s extension.

Talking Tuesday with members of the Indianapolis media attending the NFL owners meetings in Boca Raton, Florida, Irsay mentioned July 4 as a preferable date to finalize what figures to be a massive multi-year extension for the team’s franchise quarterback. He indicated, however, there is no urgency and it’s not a hard deadline.

Luck is playing under his rookie contract after the Colts picked up the fifth-year option. That calls for Luck to earn $16.155 million this season.

An extension undoubtedly will vault him into the upper echelon of compensation.

“You know you’re talking about that top-five group and the elite quarterbacks and the guys that have had the most success,” Irsay said recently. “Whether it’s going to be the highest and those sorts of things, we’ll see how that goes.

“I don’t think there’s a debate on what he means to our franchise. I see Andrew here, God willing, for a really long time.”

Speculation has Luck’s extension averaging more than $20 million per season.

Irsay also told reporters Wednesday Luck “is completely healthy.’’

Luck missed nine games last season, the final seven with a lacerated kidney. He missed two games early in the season with injuries to his ribs and right shoulder.

In other Colts-related news, Coach Chuck Pagano told reporters that defensive lineman Henry Anderson won’t be ready for the start of training camp in late July. He missed the final seven games of his rookie season after tearing the anterior cruciate ligament in his right knee Nov. 8 against the Denver Broncos.