Former Gator Anthony Richardson's team option declined by Indianapolis

The Indianapolis Colts are declining the fifth-year team option on quarterback Anthony Richardson's rookie contract for the 2027 season, according to reports.

Friday was the deadline for NFL teams to exercise the fifth-year options on 2023 first-round selections, including the former Florida Gator, who was selected with the 4th overall pick of that year's draft. Had the Colts exercised his option, Richardson would have received a guaranteed salary of over $22 million; instead, the Gainesville, Florida, native will be thrust into the unrestricted free agent market after the contract expires next year.

Richardson had requested a trade back in February and was granted permission to speak with other teams about a potential deal ahead of the decision. While the move bodes poorly for his future in Indianapolis, it does not necessarily mark the end of his tenure in the Circle City, as he is still signed through the upcoming campaign.

It seems unlikely, however, that Richardson will stay in Indy after the franchise signed quarterback Daniel Jones to a two-year extension worth $88 million last month, signaling his position as the team's starter heading into next fall and beyond. After a three-year stint that was marred by some bizarre injuries and inconsistent play, the UF standout — who is still just 23 years old — has voiced his desire for a fresh start elsewhere.

Although Richardson has not attended voluntary offseason workouts, general manager Chris Ballard recently noted that he could remain with the franchise that made a leap of faith on his raw talents coming out of college.

"There's definitely a scenario there," Ballard said in March. "He's a good dude, and he's talented. I still want good for Anthony. I still think he's got a lot in him."

Richardson appeared in just four games during his rookie season, completing 59.5% of his passing attempts for 577 yards, with three touchdowns and an interception, while adding 136 yards and four scores on 25 rushing attempts. He was named the starter out of camp, but lost his QB1 designation due to injuries after Week 5 to Gardner Minshew, who lined up under center for the remainder of the schedule.