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The Indianapolis Colts have signed quarterback Andrew Luck, who was taken with the first overall pick in the April draft, to a four-year contract, a league source tells ESPN NFL Insider Adam Schefter.

According to the Indianapolis Star, the deal is fully guaranteed and expected to be worth $22 million -- with a $14.5 million signing bonus.

The quarterback's agent and uncle, Will Wilson, confirmed Thursday the deal had been completed.

The Colts hold an option for a fifth year, the Star said. Indianapolis' rookies report to training camp on Wednesday.

Quarterback Robert Griffin III, the No. 2 pick behind Luck, was signed by the Washington Redskins on Wednesday. Griffin's four-year contract is worth $21.1 million and is fully guaranteed, with no offset language, a league source told Schefter.

Luck, a two-time Heisman Trophy runner-up at Stanford, will replace Peyton Manning behind center this season.
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