5 reasons Andrew Luck extension is a bad move for Colts
By John Buhler
5. Jim Irsay just spent 1/1000th of that on a Prince guitar
Colts billionaire owner Jim Irsay likes to overspend on something he really wants. From keeping his star quarterback in Indianapolis through 2021 for $140 million to splurging on the late rock n’ roll icon Prince’s famous Yellow Cloud guitar for $137,500 in an auction.
Irsay just spent 1/1000th of Luck’s new contract on a guitar that a famous musician once played that he’ll likely keep in a protective glass frame in his mansion as a collectible. While it’s cool that Irsay has all the money to go on this spending spree, his Colts general manager Ryan Grigson faces the same NFL salary cap that all 31 other NFL teams have to deal with annually.
While the salary cap will probably increase during the NFL’s next collective bargaining agreement, there is serious potential that this deal of Luck’s could be a massive albatross if he doesn’t live up to lofty expectations as the next savior of the Colts’ franchise.
When Peyton Manning left, Indianapolis stunk to a 2-14 record in 2011 and have never won more than 11 games in the Luck era in Indianapolis (2012-present). It takes a roster of 53 to win a Super Bowl.
When Luck’s back-loaded contract starts to make things tight with the salary cap, Irsay might put the blame on Grigson and target a new general manager. Still, it’s difficult to sign/retain key players when so much money is tied up in one player.
Irsay can’t throw money at a potentially chaotic Colts salary cap in the future like he did at that Prince auction and still expect to come out on top. Restructuring seems inevitable as Luck’s salary will make it hard to field a competitive team in his early 30s.
Next: 4. This angers the rest of the AFC South