Originally posted on Pro Sports Daily  |  Last updated 4/29/12

Indianapolis Colts owner Jim Irsay reportedly said late Saturday the Colts have begun talks with first-round pick Andrew Luck and he expected the contract to be finalized soon.

"It's something that should be done swiftly," Irsay told the Indianapolis Star. "There shouldn't be a difficult process with that."

The Colts drafted the Stanford quarterback with the first pick in the NFL Draft on Thursday.

Under the terms of the new rookie wage scale, the Star reported that Luck should get a four-year, $22 million contract.

The new scale drastically changed the money for rookies. Luck's contract is expected to mirror the deal for Cam Newton, who was taken with the first pick of last year's draft.

"The sooner the better on all the draft picks," Irsay said. "We're going to present all the picks (offers) and say, 'Here is the deal. Period.'

"It's not complicated. There's no incentives. ... four years with the fifth year as an option."

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James Dolan is among potential group of investors of new arena for New York Islanders

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