Report: Indianapolis Colts decline to pick up Anthony Richardson's fifth-year option

The Indianapolis Colts made their decision on former First-Round pick Anthony Richardson‘s future with the organization on Thursday.

Unsurprisingly, Indianapolis has declined to pick up Richardson’s fifth-year option (worth $22,483,000), FOX59’s Mike Chappell reported. This will make Richardson an unrestricted free agent following the 2026 season, unless the two parties can work out a long-term deal at some point during the season. That, however, does not seem likely.

In early March, the Colts signed Daniel Jones to a two-year, $88 million contract extension, signifying that Jones is their franchise quarterback of the future. NFL Network’s Cameron Wolfe reported mid-February that the Colts and Richardson mutually agreed to seek a trade, although that has yet to come to fruition. Richardson played in just two games last season after suffering a fracture of his orbital bone.

Across three seasons with the organization, Richardson has played in 17 games (15 starts). In that span, the Florida alum boasts 2,400 passing yards and 11 passing touchdowns with 13 interceptions. He also boasts 634 career rushing yards with 10 scores on the ground.

Per IndyStar’s Nathan Brown, Richardson and his camp made the trade request. Indianapolis Colts GM Chris Ballard revealed in early February that Richardson has been ‘cleared to play football’ since the end of the regular season, meaning he has no nagging injuries affecting him this offseason.

Anthony Richardson could rehab image with a different organization

With Daniel Jones returning for his second season with the organization, there truly was no other choice for the Indianapolis Colts to make when it comes to Richardson. Jones cemented himself as the Colts’ franchise quarterback last season prior to his torn Achilles tendon. 

In 12 complete games, Jones led the Colts to an 8-4 record and a 7-1 start to the season. He compiled 3,101 passing yards and 19 touchdowns with eight interceptions, along with 164 rushing yards and five more scores on the ground.

Richardson was always a risky choice in the NFL Draft, as he truly played just one full season of college football at Florida. The Miami native attempted 64 passes for the Gators in 2021, but did not evolve into Florida‘s starting quarterback until the 2022 season. That year, Richardson passed for 2,549 yards and 17 touchdowns with nine interceptions. The Gators finished with a disappointing 6-7 record after opening the season with a win over No. 7 Utah, but this didn’t affect Richardson’s draft stock.

He soared up the draft boards at the last second and was selected by Indianapolis with the No. 4 overall pick, ahead of players such as Super Bowl Champion DB Devon Witherspoon, Offensive Player of the Year WR Jaxon Smith-Njigba, All-Pro WR Puka Nacua, All-Pro RB Bijan Robinson, All-Pro DT Jalen Carter, three-time Pro Bowler RB Jahmyr Gibbs, and All-Pro DB Christian Gonzalez.

Richardson, who very well could still be traded at some point prior to the regular season, could find himself with an opportunity to go elsewhere and rehab his image. Former top Draft selections Baker Mayfield and Sam Darnold have done the same in recent history.