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The Indianapolis Colts will not exercise the fifth-year option for quarterback Anthony Richardson Sr. He is currently on the trade block after requesting a move in February.
Colts Make Significant, But Expected Decision On Anthony Richardson Sr.
As expected, the Indianapolis Colts will not pick up the fifth-year option for quarterback Anthony Richardson Sr., according to Mike Chappell of FOX59/CBS4.
Teams have until Friday, May 1 to make the decision regarding their first-round picks from the 2023 NFL Draft.
The Colts' fourth-year quarterback, and No. 4 overall pick in the 2023 draft, is currently on the trade block after requesting a move back in February, but the Colts have struggled to find a suitable trade partner.
With Richardson's long history of injuries, including the current recovery from a freak incident that required eye surgery in 2025, adding an extra year with a $22.5 million price tag (OverTheCap.com) to him would've likely killed any remaining minimal shot at trading Richardson.
While the Colts would be adding an extra year of security with Richardson, it also brings a significant financial commitment, which is not ideal for a new team to take on.
Last Monday, April 20, during his pre-draft press conference, Colts general manager Chris Ballard was asked whether the team planned to pick up Richardson's fifth-year option.
"We have not even talked about it, but that's just one I hadnât even thought about right now," Ballard said, which told people all they needed to know right then and there. "I'm just thinking more about, âOkay, what's his future with us? Is it this year or is it with another team?â"
Since being named the starting quarterback as a rookie, Richardson has only been active for 29 out of a possible 51 career games, missing time with a concussion, and shoulder, hip, back, and eye injuries.
On the field, Richardson was promising, but volatile. He completed just 50.6% of his 350 career pass attempts, including a franchise record-low 47.7% in 2024. He was benched briefly for two games due to his poor performance that year, but came back strong afterward to lead a pair of fourth-quarter comeback wins.
The decision was expected as the Colts have struggled to find a suitable trade partner for Richardson.
NFL teams have until May 1 to decide on fifth-year options for their first-round picks from the 2023 draft.
Anthony Richardson Sr. is on the trade block after requesting a trade in February.
Check out the predicted line-ups for the crucial Atalanta vs Genoa match!
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In total, Richardson has 21 career rushing and passing touchdowns to 17 turnovers.
Richardson lost a competition to be the starting quarterback last offseason, as newcomer Daniel Jones became the team's new leader.
Presently, with the Colts' offseason program having started, Richardson is away from the team, training in Jacksonville, Fla.
"Anthony is not here," Ballard said last week. "He's also requested a trade. He's down in Jacksonville training. I actually have talked to his trainer, who's â and I talk to him often and his agent, but he's in good spirits. Nothing has transpired at this point. I don't know any question you're going to ask other than, will he be here? Well, he could be. We'll see. But as of right now, he's down there training in Jacksonville."
Richardson was one of just two top-10 picks from 2023 who wasn't extended or have their fifth-year option exercised.
The two other quarterbacks taken in the first round, Bryce Young (No. 1 to Carolina Panthers) and C.J. Stroud (No. 2 to Houston Texans), both had their fifth-year options exercised.