It's official, Andrew Luck will remain the quarterback of the Indianapolis Colts for the foreseeable future after he and the team agreed to a five year extension on Wednesday.

Team owner, Jim Irsay announced the deal through his Twitter account.

As expected, and deserved in the eyes of fans, the deal will make Luck a very rich man.

Just how big, you ask? ESPN Insider, Adam Scheffer broke it down on Twitter.

As Schefter noted in a follow up tweet, the $87 million in guarantees beats the previous records by leaps and bounds.

According to the contract-tracking website, Spotrac, Luck was originally scheduled to make just over $16 million this season, the final year of his rookie contract.

With the elephant in the room now taken care of, the team can focus on putting the proper pieces around him to be Super Bowl contender every season; a process that appears to be heading in the right direction based off their selections in this year's NFL Draft.