The Indianapolis Colts could have gotten some compensation for the shockingly early retirement of quarterback Andrew Luck, but they reportedly won’t be recouping the $24.8 million owed.
The Colts and Luck reportedly reached a settlement last week that will essentially allow the latter to keep the money, according to Adam Schefter of ESPN:
Despite the fact that they could have recouped $24.8 million from their former quarterback, the Indianapolis Colts have reached a financial settlement with Andrew Luck and will not take back any of the money they are owed, league sources told ESPN.
The Colts essentially are telling Luck to keep it all, even though it is within their rights to reclaim the money.
The settlement was reached late last week, according to a source familiar with the talks.
Luck could have owed $12.8 million as a prorated portion of the $32 million signing bonus he received in the extension he signed in 2016. He also could have owed his $12 million roster bonus he received in March.
This was a good move by the Colts given everything Luck has been through during his career, and now they will look toward the future with the retirement official.
