The Indianapolis Colts and Andrew Luck have made significant progress on a contract extension.

Jim Irsay would like a deal with Luck to be agreed upon by the start of training camp in July.

During the NFL owners meetings in March, Irsay said he hoped a "nine-figure" deal would be reached with Luck by July 4.

"Talks are progressing well. We have made progress," said Irsay. "I mentioned Fourth of July before. I don't think that marker is something that needs to be watched as an indicator. We should be able to come to a deal. Until you do, we still have ground to cover. There's no question about that. It's a complicated contract. It's one that has to work both ways to make sure we're able to field a great football team."