The Indianapolis Colts are on the clock for the 2012 NFL Draft.

Andrew Luck, come on down. By virtue of a 19-13 loss to Jacksonville, the Colts have wrapped up the No. 1 pick, which they will obviously use on Stanford’s Andrew Luck.

Luck, the Heisman runner-up the last two years, will be taking the baton from Peyton Manning. Gotta feel bad for defensive coordinators in the AFC South.

The only question is what the Colts will do with the best player in franchise history. It probably won’t be clear for at least 3 months:

The next significant date in the Manning timeline is March 8, at which time he’s due a $28 million option bonus that triggers the final four years of the five-year, $90 million contract he signed in July. If the Colts opt to not pay the bonus, Manning becomes an unrestricted free agent.

It doesn’t make a whole lot of sense to simply cut Manning if he’s healthy, so one would assume the Colts hope Manning passes all the necessary tests and then they can trade him to someone in need of a QB for a few draft picks.

The Jets took a chance on one mid-30s QB a few years ago (Brett Favre) and that worked for half a season before the bottom fell out and they missed the playoffs. Favre left, the Jets drafted Mark Sanchez and …

I’ve gotten ahead of myself. Congrats, Colts fans. You’re set at QB for the next 12-15 years.