AP

Colts owner Jim Irsay says he and Andrew Luck, and everyone else involved in contract negotiations, want to get a long-term deal done as soon as they can.

“It’s progressing well,” Irsay said. “We’ve had really good conversations. There is nothing new to report. Nothing imminent. I’m still hopeful that before training camp that we can get something done and I think both sides feel the sooner the better. . . . I would be surprised if we don’t have something done before training camp.”

Irsay said it’s possible the deal could get done before the Fourth of July, although he didn’t put a deadline on it. Irsay acknowledged that he’ll be paying Luck a lot of money.

“It comes down to the debates in the negotiations of years, total number, total guarantees and all those sorts of things and obviously how it relates to the cap. I haven’t seen anything that has just been a problem that is going to hold it up. I see progress being made,” Irsay said.

Within the next couple of months, Luck should have a new contract, and it may make him the highest-paid player in NFL history.