Maybe Andrew Luck hasn't really played like an elite quarterback, but hey, if his team is willing to hand over that kind of cash, he should take it. To ask if he, or any professional athlete, should get the deals they get is a little like asking if anybody needs to get breast augmentation surgery. Should or need just don't apply, it is all overblown window dressing.
Despite his underwhelming performance in the 2015 season, Andrew Luck has been an invaluable quarterback for the Indianapolis Colts since 2012. His injuries in the 2015 season kept him from taking his team to the playoffs, but his uninjured performance prior to that season was a shining example of on-field athleticism and split-second acumen. The Colts made an expensive but necessary decision to lock in Luck's one-of-a-kind abilities for the next six years. Barring any unforeseen circumstances, Andrew Luck promises to be the Colts' ticket to the playoffs and beyond.
Andrew Luck's future looks promising and bright, and if a team felt the need to pay him that amount of money to provide them with future wins, then that is their prerogative. No one really has a right to say how much a person should be paid in professional sports. It all comes down to a matter of skills, age, and team need.
No, Andrew Luck should not have received a $140 million deal. Athletes are not worth this much. It does not make sense that he got this amount of money. Many people have never even heard of him. He may be a good football player, but he is not worth this much.