Over the next 3 years, the Colts need to take advantage of the fact that they have a stud quarterback playing on a rookie contract. This is definitely one of the reasons Irsay decided to cut Manning. He realized that the first four years of Luck's career would cost roughly the same as one year of Manning. Grigs really needs to take advantage of that over the next couple of years. He kind of whiffed on some of the free agents last year, but hopefully he has a good bounce back in 2014 and adds some nce players. The Seahawks are kind of in the position the Colts are in now. They took advantage of the fact that Wilson and some other young players are being paid pennies. Things will get tougher for them too when those guys need paydays.
StampedeBlue had an article about this the other day. Brad Wells says that the Colts have to pay Luck two years from now in the Winter of 2016, aka after year four of his career. I thought that there was a fifth year team option though, which would mean that the Colts wouldn't have to pay him until the Winter of 2017. Anyway, there is a lot of typical Wells hyperbole there, but overall his point is pretty on. The Colts really need to take advantage of this golden opportunity while Luck is still on a cheap deal. Once Luck signs a major contract, it's going to make it all the more difficult to field a beast team around him. Obviously it will still be possible to field a beast team, but it's just going to be harder. Plus you have to figure that Hilton is going to be playing his way into a pretty big contract himself.
The Ravens won the Super Bowl last year when Flacco was still on his rookie deal, but him playing like Joe Montana in the playoffs was honestly the worst thing that could have ever happened to them from the standpoint of the future of the franchise. He is grossly overpaid and will make it more difficult to field a great team around him. Obviously Luck is a better quarterback than Flacco, but the Colts will find themselves in the same financial situation someday soon when Luck is paid a ton of money.