Peyton Manning

CBS NFL Insider Jason La Canfora wrote Tuesday that he has "heard plenty of rumblings about (Andrew Luck) starting the year on the physically unable to perform list...".

Right now, Luck (shoulder) is on the preseason PUP list, which means he can come off of it at any time, but LaCanfora is alluding to the regular season PUP list in which any player on that must miss the first six weeks of the season.

La Canfora notes: "As a first-time general manager just on the job, (general manager Chris) Ballard has time on his side, and undoubtedly Luck is the greatest thing this organization has going for it. This roster is far from the finished product, and with Ballard just beginning a five-year contract, the long view -- or at least the medium-view -- has to dictate the vision of the front office."

4for4's Steve Andress is a former team reporter for the Indianapolis Colts and notes any decision involving Andrew Luck usually goes through owner Jim Irsay's office. Irsay has spoken about wanting to win multiple Super Bowls in the Luck era after regretting only winning one with Peyton Manning. It's hard to imagine he would jeopardize Luck's long-term health just to get him on the field early this season, if his rehab is not 100 percent complete.

The Colts have given no timetable for Luck's return, and Luck, when asked, did not say whether he thought he'd be ready for the start of the season.

Indianapolis Star beat writer Zak Keefer also noted Tuesday night on Twitter: "1 thing to stress again about Luck: There are SIX weeks until regular season starts. He's begun the throwing part of his rehab. Lot of time."

Herald Bulletin beat writer George Bremer also tweeted: "For those asking, I'm told Chris Ballard's statement from last week stands. Luck expected to come off PUP before reg season begins."

There's no red alert yet on Luck, but drafters need to proceed cautiously at this point, considering how deep the quarterback position is and Luck's high 5th round ADP. When healthy, Luck is a top-five fantasy quarterback; however, this shoulder injury is one the Colts had put off surgically repairing since it first happened early in the 2015 season before later lacerating his kidney and missing the rest of that season. In 2016, Luck would regularly sit out a day or two of the practice week trying to manage the shoulder, before the Colts and Luck finally opted for surgery this past offseason. All parties have said the same thing, that they are going to methodically take their time with Luck's rehab. What that means exactly for his early season availability is still to be determined. Proceed cautiously in drafts.