Colts' Biggest Offseason Question Involves One of Their Greatest Investments

This is one of the most pivotal offseasons in recent memory for the Indianapolis Colts, and while there are questions aplenty, one stands out more than anything else.

Will Anthony Richardson Sr. be a part of the 53-man roster when the 2026 season kicks off?

Sports Illustrated's Gilberto Manzano supports this, listing Richardson's future with the team as the top question.

"It’s a bit surprising that the Colts haven’t traded Richardson this deep into the offseason. Perhaps they were hoping to get more compensation for a player they invested a No. 4 pick in three years ago.

At the moment, both sides are playing nice by allowing Richardson to participate in the team's offseason program. It doesn’t hurt for Indy to have a backup plan in case Daniel Jones hits a snag while recovering from his ruptured Achilles tendon.

But the Colts are likely waiting for a market to develop for Richardson, which could happen if QB injuries occur in training camps and preseason action."

Anthony Richardson Sr. walks off the field after a victory. — Indianapolis Colts quarterback Anthony Richardson Sr. (5) leaves the field following a game against the Miami Dolphins on Sunday, Sept. 7, 2025, at Lucas Oil Stadium in Indianapolis. The Colts defeated the Dolphins 33-8. | Christine Tannous/IndyStar / USA TODAY NETWORK via Imagn Images

First off, it's not all that surprising that teams passed on trading for Richardson.

Regardless of whether Indianapolis wanted compensation that resembled a fourth-rounder or a seventh-rounder, Richardson's lackluster on-field play and brutal injury history could easily deter teams from taking a swing.

During Richardson's first two seasons with 34 possible starts, he whiffed on a whopping 19 games with a wide range of injuries.

He even entered the 2025 offseason with soreness in the same shoulder he suffered an AC joint sprain in during his rookie year. Tack on his orbital bone fracture during the 2025 season, and this makes a viable reason to avoid a trade.

As for his performances on the gridiron, they don't need much explanation. Below are Richardson's career numbers through three years, 17 games, and 15 starts:

8-7 record
177/350 completions
50.6 completion percentage
11 passing touchdowns
13 interceptions
634 rushing yards
10 rushing touchdowns
12 fumbles

It's simple: Richardson can't stay on the field, and when he has, he's been arguably the worst quarterback in the league.

As for Manzano mentioning that he could be an insurance policy to Daniel Jones, one player stands in the way of that argument: Riley Leonard.

#Colts HC Shane Steichen on Anthony Richardson Sr.: “He’s back in the fold right now. That part’s been. He’s working …”

On how he’ll split reps: “(AR’s) gonna get reps just like (Riley Leonard) will get reps.”

Will AR compete for QB2? “We’re in May. We’ll see how it goes. …” pic.twitter.com/hnUUPSJUTY
— James Boyd (@RomeovilleKid) May 8, 2026

Yes, Richardson would compete for the backup role if he remains on the roster, but the notion is that Leonard definitely has the advantage.

Last year, Leonard showed his mettle in Week 18 after Indianapolis was booted out of the playoffs and decided to sit Philip Rivers. He faced the venerable Houston Texans defense and outperformed any and all expectations.

It's not written in stone, but the Colts likely have Leonard in mind to backup Jones, especially since he saw meaningful action during the 2025 season and wasn't a complete liability.

It is fair for Manzano to mention that injuries could occur to other quarterbacks on other NFL teams during the offseason workouts, but even then, Indianapolis can't possibly expect more than a sixth or seventh-rounder for Richardson.

If he ultimately isn't traded, it's hard to imagine Indy cutting or releasing Richardson. Why you ask? Because it would cost the team $10,816,282, which is a massive chunk of change to absorb.

In short, I believe the answer to this question is a resounding 'yes.'

The relationship between the Colts and Richardson has been ugly, to say the least. However, unless an injury happens to a QB on another team, like Manzano brings up, the Colts might as well ride out Richardson's final year on his rookie deal.

It allows him to shock the Colts and win the backup job against Leonard. If this happens, he puts himself just a snap away from taking the field for an injury-prone Jones.

We'll see what unfolds, but I can't see Richardson playing for any team in 2026 other than the franchise that drafted him fourth overall three years ago.

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