Colts won’t pick up Anthony Richardson’s fifth-year option

Don’t expect Anthony Richardson’s time with the Colts to continue for much longer.

The Colts will not be exercising the fifth-year option on Richardson’s rookie contract, Fox 59 reported Thursday.

General manager Chris Ballard told reporters Saturday that he “hadn’t given too much thought” to Richardson’s fifth-year option that would pay him just over $22 million for 2027.

Indiana’s move to decline the option does not come as a surprise, as the Colts are expected to trade the quarterback during the offseason.

Richardson, 23, has skipped out on the Colts’ offseason workouts after requesting a trade earlier this month, with both parties looking for an exit ramp.

“Anthony’s not here. He’s also requested a trade,” Ballard told reporters on April 20. “He’s down in Jacksonville training. I actually have talked to his trainer, and I talk to him often and his agent, but he’s in good spirits.

“Nothing has transpired at this point. I don’t know any question you’re going to ask other than, ‘Will he be here?’ Well, he could be. We’ll see. But as of right now, he’s down there in Jacksonville. We’ll kind of work through that as we go.”

Despite being chosen No. 4 overall by the Colts in the 2023 NFL Draft, Richardson’s first two seasons were plagued with injuries before he lost the starting quarterback job to ex-Giant Daniel Jones ahead of the 2025 season.

Injuries also factored into Richardson’s 2025 season, with the quarterback suffering an orbital fracture.

Jones signing a two-year $88 million deal with the Colts in March ultimately cemented him as their QB1 for the near future, leaving no room for Richardson.

If the Colts fail to trade Richardson, he will be an unrestricted free agent following the 2026 season.

“I’m not going to say he needs a complete fresh start,” Ballard said during the NFL combine in February.

“Anthony’s still young. He’s still developing, so we’ll see what the future holds. I still believe in Anthony.”