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.

The deal is fully-guaranteed worth about $22 million, with no offset language. The Colts hold an option for a fifth year.

According to the Indianapolis Star, the deal also includes a $14.5 million signing bonus.

With Luck under contract, he is free to report to a three-day rookie training camp prior to the Colts' team-wide July 28 reporting date.

Luck participated in the Colts' rookie minicamp in May and their mandatory minicamp last month. However, in between he missed all 10 of the club's organized team activities while completing degree requirements at Stanford.

Luck has been the runner-up in the Heisman Trophy voting the past two years straight. He completed 288 of 404 passes (71.3%) for 3,517 yards and 37 touchdowns with 10 interceptions as a red-shirt junior last season.

Luck will replace Peyton Manning this season as new starting Colts' quarterback.

The Colts have only two of their 10 draft picks left to sign. They are Stanford TE Coby Fleener, a second-round pick, and Clemson TE Dwayne Allen, a third-round selection.

Quarterback Robert Griffin III, the No. 2 pick behind Luck, was signed by the Washington Redskins on Wednesday to a four-year deal worth $21 million fully guaranteed, with no offset language.

Now that Luck and RG3 are signed it is expected the rest of the first round draft picks to sign with their teams in rapid succession.