The Indianapolis Colts do not expect to have Anthony Richardson on the roster this time next year.
Friday is the deadline for teams to exercise the fifth-year option on the rookie contracts of 2023 NFL Draft first-round picks. According to ESPN, the Colts are declining the option on Richardson.
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The Colts will not pick up the fifth-year team option for 2027 on quarterback Anthony Richardson Sr.’s rookie contract, a source confirmed to ESPN.Story via @HolderStephen: t.co/Ij4R8w0xYq
— Adam Schefter (@AdamSchefter) May 1, 2026The news does not come as a surprise, as Richardson’s 3 seasons have not gone as planned. Last year, Indianapolis acquired Daniel Jones. After a standout first season with the Colts, Jones has signed a 2-year, $88 million extension.
On the fifth-year option, Richardson would have been owed more than $22 million guaranteed. In February, Richardson requested a trade from the Colts and was granted permission to speak with other teams. He remains with the club, but has yet to attend voluntary offseason workouts.
Richardson was the No. 4 overall pick in the 2023 draft. Entering Year 4 of his career. The former Florida quarterback has played in just 17 NFL games so far. He has missed extensive time due to injury, including an orbital fracture after a freak accident last year that placed him on injured reserve for much of the 2025 season.
In his pro career, Richardson has completed 50.6% of his passes for 2,400 yards, 11 touchdowns and 13 interceptions. He has also rushed 115 times for 634 yards and 10 scores.
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