INDIANAPOLIS — The Colts will not pick up the fifth-year team option for 2027 on quarterback Anthony Richardson Sr.’s rookie contract, a source validated to ESPN.
Friday is the deadline for NFL teams to exercise the fifth-year options on 2023 first-round selections. With the Colts declining to do so, as expected, Richardson, the fourth pick in 2023, will hit unrestricted free agency after the 2026 season. Exercising Richardson’s option would have come with a guaranteed salary of more than $22 million.
The decision only adds to the uncertainty surrounding Richardson’s future with the club. Named the starting quarterback just two weeks into his first training camp, Richardson requested a trade in February and was granted permission to speak with other teams about a potential deal.
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Although no deal has materialized yet, it remains unclear whether Richardson will remain with the Colts for the 2026 season. He continues to hold out hope of landing elsewhere as he seeks a fresh start following the Colts’ commitment to quarterback Daniel Jones, who last month signed a two-year, $88 million extension and will be the team’s starter for the foreseeable future.
Richardson has so far elected not to attend voluntary offseason workouts.
General manager Chris Ballard recently pointed out that it’s possible Richardson remains with the team.
“There’s definitely a scenario there,” Ballard reported in March. “He’s a good dude and he’s talented. I still want good for Anthony. I still think he’s got a lot in him.”
Richardson, a raw prospect who started just 13 games at the University of Florida, has struggled with performance and injuries in his short Colts tenure. He missed 17 games because of injuries during his stint as the starter in 2023-24, then spent most of last season on injured reserve after a freak accident during pregame warmups left him with an orbital fracture.
In 17 appearances over three seasons, Richardson has completed 50.6% of his attempts with 11 touchdowns and 13 interceptions.
Fox59 in Indianapolis was first to report the Colts would not pick up Richardson’s option.
