Colts decline Anthony Richardson's fifth-year option, setting up free agency
The decision follows Richardson's request for a trade in February and the organisation's commitment to Daniel Jones as the starting quarterback, with the general manager noting a scenario where the former fourth-round pick could still remain with the club.
The Indianapolis Colts have confirmed they will not pick up the fifth-year team option on quarterback Anthony Richardson's rookie contract for the 2027 season. This determination was made by the franchise on Friday, the final deadline for NFL teams to exercise options on 2023 first-round selections. By declining the option, the club avoids a guaranteed salary of more than $22 million, effectively ending Richardson's tenure under his current deal.
Consequently, Richardson will hit unrestricted free agency immediately following the conclusion of the 2026 season. The move adds significant uncertainty to his future with the club, particularly after he requested a trade in February and was granted permission to speak with other teams about a potential deal. Despite his hopes of landing elsewhere to seek a fresh start, no trade agreement has materialised to date.
The decision aligns with the team's broader strategic shift towards stability at the number one position. The Colts have committed to quarterback Daniel Jones as the starter for the foreseeable future, a stance solidified last month when Jones signed a two-year, $88 million extension. Richardson has not attended voluntary offseason workouts, a factor that underscores the friction between the player and the organisation.
General manager Chris Ballard has attempted to balance the financial reality with the player's potential, noting that there is still a scenario where Richardson remains with the team. Ballard stated in March that Richardson is a good dude with talent and that he still wants what is best for the quarterback, suggesting the door is not entirely closed for the 2026 season. However, the lack of a trade deal and the missed offseason workouts leave the situation ambiguous.
Richardson's tenure in Indianapolis has been marked by significant challenges regarding availability and performance. Selected fourth overall in the 2023 NFL Draft, he was named the starting quarterback just two weeks into his first training camp but struggled to maintain that role. He missed 17 games due to injuries during his stint as the starter in the 2023–24 period and spent most of the 2024 season on injured reserve following an orbital fracture sustained in a pregame warmup accident.
Statistically, Richardson has completed 50.6% of his attempts over 17 appearances across three seasons, throwing 11 touchdowns and 13 interceptions. His college career at the University of Florida saw him start just 13 games. As the deadline passes and the option is declined, the focus now shifts to how the franchise manages the transition to Jones while navigating the contractual status of a high-profile young quarterback.
