Indianapolis Colts owner Jim Irsay claimed Saturday that a contract with rookie quarterback Andrew Luck is not being held up by marketing language.
Irsay, using Twitter, denied a report by The Sports Xchange's Len Pasquarelli, which stated that Luck's agents and the team disagree over details related to the quarterback's off-the-field endorsements. A source indicated that Luck would "have to clear" marketing proposals with the team.
"As much as I respect my friend Lenny Pasquarelli; the "One Source" is completely wrong/We're close on #12 n final details unrelated 2 marketing," the owner wrote.
Irsay also denied in the report that "some team officials" thought that former Colts quarterback Peyton Manning was overexposed because of the amount of endorsements he had.
"It's ludicrous 2say we thought#18 was overexposed; he did a great job of focusing on football n "Branding" incredibly positive Image4Franchise," Irsay wrote.
The Sports Xchange also reported that the payout for Luck's signing bonus is also being worked out. Irsay said the two sides are close to a deal.
The schedule for the payout of Luck's bonus of $14,518,544 is the same as Cam Newton's in 2011. Newton was paid in two equal installments, but Luck and agent Will Wilson are said to be seeking something far more favorable. It is believed the Colts have improved the proposed bonus payout, but only by a little, with 55 percent due on execution of the contract and 45 percent payable next spring.
Indianapolis has made similar signing bonus payout proposals to other draft choices.