There is a new richest player in the NFL.

FOX's Chris Hoenig reports:

The Indianapolis Colts announcing that they have signed star quarterback Andrew Luck to a five-year contract extension worth a record $140 million.

Back in 2011, another Colts quarterback, Peyton Manning, signed a deal that paid him $69 million in the first three years. That was a record until Wednesday, with Luck now set to bank $75 million in the first three years.

The 87 million in guaranteed money is also the most ever, passing Eli Manning and Philip Rivers, who each had $65 million guaranteed in their latest contracts.

Luck was the third-fastest quarterback to 13,000 career passing yards, accomplishing that feat in 49 games. He missed the second half of last season due to injury, the Colts going (4-3) down the stretch, missing the playoffs.

Chis Hoenig, FOX News.

Follow FOX's Chris Hoenig on Twitter: @Chris_Hoenig