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The Indianapolis Colts have declined to pick up Anthony Richardson's fifth-year option for the 2027 NFL season, making him one of only nine first-round picks from the 2023 draft to face this decision.
The Indianapolis Colts declined to pick up Anthony Richardson's fifth-year option for the 2027 NFL season.
This decision didn't come as a surprise by any means, but out of the 31 first-round picks made in the 2023 NFL draft -- Miami forfeited their selection that year -- Richardson was one of only nine players to not have his option picked up.
All first-round draft picks earn a four-year rookie deal, but teams also have the ability to pick up or decline that player's fifth-year option. These decisions have to be made prior to that player's fourth NFL season. The deadline this offseason was May 1st.
Below are the nine players whose fifth-year options for the 2027 season were declined.
The decision to decline Anthony Richardson's fifth-year option was not surprising, indicating the team's assessment of his performance.
Out of 31 first-round picks in the 2023 NFL draft, only nine players had their fifth-year options declined.
NFL teams must decide on a player's fifth-year option prior to the player's fourth season, with the deadline for this offseason being May 1st.
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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