The Indianapolis Colts have decided they won’t pick up the fifth-year option in quarterback Anthony Richardson’s rookie contract.
That means Richardson, the No. 4 overall pick in 2023, will become an unrestricted free agent after next season.
Friday was the deadline for teams to choose whether or not to activate the fifth-year options in contracts for players taken in the first round of the 2023 NFL Draft.
If the Colts had chosen to pick up the fifth year, Richardson would have been due a guaranteed salary of over $22million.
Richardson agreed to be traded by the Colts back in February but a deal has not yet materialized.
Richardson lost his starting spot in Indianapolis last season following the arrival of experience signal caller Daniel Jones and the 23-year-old has been left out in the cold ever since.
The Indianapolis Colts won’t pick up the fifth-year option in Anthony Richardson’s contract.
The former No. 4 draft pick has endured a nightmare three-year spell in Indianapolis so far
As well as suffering a number of injuries, which have restricted him to just 17 games in three years, Richardson has struggled for accuracy during his time in Indianapolis, completing just 47.7 percent of his passes in the 2024 campaign.
He only threw two passes in as many appearances last year, completing one of them, after falling behind Jones in the pecking order.
Nevertheless, the former Florida star wasn’t even active from mid-October onwards after fracturing the orbital bone near his eye in a bizarre pregame accident. Richardson has not attended voluntary offseason workouts so far.
Jones signed a two-year, $88m contract with the Colts last month. He is expected to continue to serve as starter once he recovers from an Achilles injury.
Indianapolis believe 2025 sixth-round pick Riley Leonard is capable of being his backup, meaning opportunities for Richardson would be in short supply next season.
General manager Chris Ballard recently admitted it’s possible Richardson stays but a trade is still possible.
‘There’s definitely a scenario there,’ Ballard said 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.’
After Jones suffered a torn right Achilles, while trying to play through a fractured lower left leg, the Colts’ season unraveled quickly and a seven-game losing streak knocked them out of the playoffs once again.
