Colts decline Anthony Richardson Sr’s fifth-year option

TL;DR

The Indianapolis Colts have declined the fifth-year option on quarterback Anthony Richardson, marking a significant shift for the franchise. Richardson will enter the final year of his rookie contract in 2026 and become an unrestricted free agent next offseason.

Key points

Colts decline fifth-year option on Anthony Richardson
Richardson will enter final year of rookie contract in 2026
Inconsistent performance and injuries influenced the decision
Richardson is competing for backup role with Riley Leonard
Daniel Jones is expected to be the starter if healthy

Indianapolis ColtsAnthony RichardsonDaniel JonesRiley Leonard

Oct 5, 2025; Indianapolis, Indiana, USA; Indianapolis Colts quarterback Anthony Richardson (5) hands off the ball during a game against the Las Vegas Raiders at Lucas Oil Stadium in Indianapolis at Lucas Oil Stadium. Mandatory Credit: Grace Smith-USA TODAY Network via Imagn Images | Grace Smith-USA TODAY Network via Imagn Images The Colts have officially declined the fifth-year option on quarterback Anthony Richardson, a move that had felt inevitable for weeks but still marks a significant moment for the franchise. Richardson, the fourth overall pick in the 2023 NFL Draft out of Florida, will now enter the final year of his rookie contract in 2026 and is set to become an unrestricted free agent next offseason. For a player once viewed as the long-term answer at quarterback, it’s a notable shift in direction. The decision itself is not surprising. Richardson’s time in Indianapolis has been defined more by uncertainty than progression. Injuries have limited his availability, and when he has been on the field, the results have been inconsistent. The flashes that made him such an intriguing prospect coming out of college have been there at times, but they have been overshadowed by struggles with accuracy, decision-making, and overall command of the offense. The Colts’ handling of the position over the past two seasons has reflected that uncertainty. Richardson has not held the job outright at any point. He split time with Gardner Minshew during his rookie season in 2023, then saw a similar situation unfold in 2024 alongside Joe Flacco. Last season, the team went in a different direction entirely, bringing in and effectively replacing Richardson as the primary option. That context makes the option decision straightforward. Fifth-year options for quarterbacks, especially those drafted in the top five, carry significant financial commitments. Picking up Richardson’s option would have required a major investment in a player who has not yet established himself as a reliable starter. The Colts were not in a position to make that bet. Richardson will now head into 2026 as a 25-year-old quarterback playing for his next contract. Under normal circumstances, that could create a strong market, especially given his physical traits and draft pedigree. However, the reality is less encouraging. Reports have indicated that the Colts were open to exploring a trade, but there has been little to no interest around the league. That lack of a market speaks to how Richardson is currently viewed. Teams still recognize the upside, but the combination of injuries and inconsistent play has made it difficult to justify acquiring him without seeing more development. At the moment, Anthony Richardson is battling for the backup quarterback job. Daniel Jones will enter training camp as the starter if he is healthy.

Q&A

Why did the Colts decline Anthony Richardson's fifth-year option?

The Colts declined the option due to Richardson's inconsistent performance and injury issues, making it a risky financial commitment.

What are the implications for Anthony Richardson after the Colts declined his option?

Richardson will now enter the final year of his rookie contract in 2026 and will be an unrestricted free agent, needing to prove himself to secure a new deal.

Who is competing with Anthony Richardson for the backup quarterback position?

Anthony Richardson is currently battling Riley Leonard for the backup quarterback job, with Daniel Jones expected to be the starter if healthy.