Johnson, 33, joined the Colts this offseason after 12 campaigns in Houston, where he recorded 1,012 receptions, 13,597 yards and 64 touchdowns to become one of the NFL's elite receivers.
This puts Luck under contract through the 2016 season. He's entering the fourth year of his rookie deal this season. Since being the top overall pick in the 2012 draft, Luck has started 48 games for the Colts. He led Indianapolis to the AFC Championship this past season.
In his first three NFL seasons, Luck has completed 1,062 of 1,813 passes for 12,957 yards, 86 touchdowns and 43 interceptions. He's been named to the Pro Bowl in each of his three years.
Luck threw for 4,761 yards and 40 touchdowns in 2014, which included throwing for over 300 yards consecutively in Weeks 3 through 11.
"Andrew still has two years left, and whatever our talks are between Andrew and his people will remain confidential," Irsay said. " ... I really think most likely the scenario is going into the offseason next year is when that second contract will come up. That's the vision I have right now."
The former first overall pick of the Colts in the 2012 draft has thrown for 12,957 yards with 86 touchdowns and 43 interceptions in three seasons. He has also added 905 yards on the ground with 12 rushing touchdowns.
Luck was the No. 1 overall pick of the 2012 draft and has proven to be worthy of his draft status. Luck has two years remaining on the $22 million deal he signed as a rookie. The deal includes a team option for 2016, which must be exercised by May 1.
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