1. Hand Andrew Luck a blank contract, and let him fill in the terms. Not figuratively -- literally. Hand Andrew Luck a contract signed by Jim Irsay, Ryan Grigson, Chuck Pagano, whoever else has to look it over, whatever. Just leave the terms of the deal blank, and let Luck fill them in. The Colts can't afford to let Luck go, and their best chance of getting him to take a below-market deal might be to try to guilt him into taking less money (also knowing he's smart enough to not wreck their cap from a team-building standpoint). No professional team has followed the Radiohead pay-what-you-want model for "In Rainbows." This is the time to start.I'm not saying they shouldn't sign Luck, what other choice do they have? But you can't hand him a blank contract. Signing Luck will give them the overrated, ton of potential quarterback that most teams end up with. Make him an offer and let him walk if he doesn't take it.
Will Luck ever put it all together? I doubt it. He forces way too many passes and is an interception machine at times. He has shown little growth in this area.
The Colts have no running game and are inconsistent on defense. Giving Luck a blank contract doesn't address any of those needs and will tie up a ton of money on a quarterback coming off of a terrible, injury filled year.
Save the money! Build the defense and get a decent running game put together. A quarterback who couldn't complete a pass over 15 yards just won the Super Bowl for God's sake.