Colts Decline Richardson's Fifth-Year Option

The Indianapolis Colts declined quarterback Anthony Richardson's fifth-year option on his rookie contract ahead of the May 1 deadline, ensuring he will become an unrestricted free agent after the 2026 season.

The decision, first reported by FOX59, means the team will not guarantee Richardson roughly $22.5 million for 2027. Richardson, selected fourth overall in the 2023 NFL Draft out of Florida, has appeared in 17 games with 15 starts over three seasons. He has completed 50.6 percent of his passes for 2,400 yards, 11 touchdowns and 13 interceptions, while adding 634 rushing yards and 10 scores. His career has been hampered by injuries, including a Grade 3 AC joint sprain in his rookie year that required surgery, oblique and back issues in 2024, and an orbital bone fracture in 2025 from a pregame warmup mishap involving resistance bands.

In 2023, Richardson split time with Gardner Minshew before the injury sidelined him. He regained the starting role in 2024 but was benched twice for Joe Flacco, including after voluntarily sitting out one play in Houston due to fatigue. Ahead of the 2025 season, the Colts signed former New York Giants quarterback Daniel Jones to a one-year deal....