Colts Anthony Richardson one of 9 players with 5th year option declined

The Colts are currently trying to trade Richardson. So for that reason, picking up this option was likely never in play, especially after agreeing to a multi-year deal with Daniel Jones. The team is also bullish on Riley Leonard as a backup quarterback option.

But in addition to all of that, as a quarterback, Richardson's fifth-year option amount came with a steep price tag of $22.4 million -- all of which would have been fully guaranteed.

Trading Richardson has proven to be difficult, with ESPN's Adam Schefter reporting before the draft that the quarterback had a "soft" market. Ballard also wants to ensure that he is getting a fair return for Richardson.

For now, it would seem that the Colts remain in wait-and-see mode. "We'll continue to work through that," GM Chris Ballard said while appearing on the 'Rich Eisen Show.'

This article originally appeared on Colts Wire: List of nine 2023 NFL draft picks with 5th-year options declined