The Indianapolis Colts declined the fifth-year option on Anthony Richardson Sr.'s rookie contract on Friday, a move that would have locked in a fully guaranteed $22.5 million for 2027. The decision leaves the 23-year-old set to become an unrestricted free agent next year if nothing changes.
FOX59 first reported the Colts' decision, and it lands after three uneven seasons that have made Richardson's future in Indianapolis increasingly hard to see. He was the 2023 No. 4 pick, but he is the only one of the three first-round quarterbacks selected in 2023 whose option was not picked up.
Richardson's rise began fast and then stalled. As a rookie in 2023, he scored seven total touchdowns in his first four games and completed 59.5 percent of his passes before a severe AC joint sprain in his right throwing shoulder required surgery and ended his season early. He returned in 2024, but the results never stabilized. He was limited to 11 games, finished with a 47.7 completion percentage, the lowest in the NFL and the lowest in Colts history, and was benched for two games after tapping out of a game against the Houston Texans because he was tired.
The Colts' patience thinned further as the season went on. Joe Flacco briefly took over before Richardson was put back in the lineup, and his best showing still came in a road win against the New York Jets, when he completed 20 of 30 passes for 272 yards, had three total touchdowns and sealed it with a game-winning 4-yard touchdown run with 46 seconds left. Even that performance could not erase the bigger pattern: Richardson was limited to 15 starts through his first two years, lost the starting job to Daniel Jones last year and requested a trade in February after three underwhelming seasons in Indianapolis.
That is why Friday's call was widely expected. The Colts already moved on from one quarterback this offseason, placing the transition tag on Jones before re-signing him to a two-year, $88 million deal. Richardson is now the backup plan on paper and, more likely, a player whose time with the franchise is nearing its end.
For a former No. 4 pick who once looked like the long-term answer, the Colts' choice turns 2025 into a proving ground without much security behind it.
