It's worth noting that the Colts did add some quarterback insurance behind Luck regardless, as the team traded former first round wide receiver Phillip Dorsett to the New England Patriots in exchange for young quarterback Jacoby Brissett.
The specifics behind Luck's shoulder labrum injury have been shrouded in mystery.
This was an expected move because had the Colts had not removed the PUP list prior to 4 p.m. on Saturday Luck would have been forced to miss the first six weeks of the regular season.
At the Colts annual Kickoff Luncheon on Wednesday owner Jim Irsay said it's a new era in the organization.
Speaking to reporters Thursday (via Zak Keefer of the Indianapolis Star), Irsay said Luck's "timetable is more on the football gods and Andrew's gut feeling on how he's feeling". The Colts have a season-altering decision to make in the coming days.
Ball family releases preview of Facebook reality show
The Balls are following in the footsteps of reality-show Goliath, " Keeping Up with the Kardashians ", which is produced by the same company.
Brissett, depending on how quickly he picks up offensive coordinator Rob Chudzinski's offense, should push Tolzien and Stephen Morris for snaps until Luck returns.
In 15 games last season, Luck threw for 282.7 yards per game and had 31 touchdowns compared to 13 interceptions.