Colts Have Until End of April to Make Anthony Richardson Decision

It wasn't long ago when the Indianapolis Colts spent their fourth overall pick on the unproven Anthony Richardson Sr. coming out of Florida. Colts fans thought they had found the quarterback of the future, but after three seasons, it looks like Richardson could soon be on his way out.

Colts general manager Chris Ballard has until the end of this month to decide whether he wants to pick up Richardson's fifth-year option, a choice that has practically already been made for him. An additional year would cost the Colts nearly $23 million, meaning the team will almost assuredly deny the option.

#Colts QB Anthony Richardson Sr. putting in some offseason work, via IG:

“one day or day one? 🤔 slow grind baby 😁”

Richardson, the 2023 No. 4 pick, formally requested a trade last month. —> https://t.co/8a4pqEnC85 pic.twitter.com/fRWK1yy1qu
— James Boyd (@RomeovilleKid) March 24, 2026

Whether it was due to poor play or injuries, Richardson never found his footing in Indy. He missed the majority of his rookie season after suffering an AC joint sprain, and his second season was filled with controversy after his infamous "tap-out" against the Houston Texans.

The most telling development came last August, when he lost the starting job to Daniel Jones. From that point forward, Richardson was no longer central to the Colts’ plans, and the organization began pivoting toward a different direction under center.

The Colts handed Jones a two-year deal worth $88 million last month, only weeks after news broke that the team would be open to finding a trade suitor for Richardson. Unfortunately, there hasn't been much interest in the 23-year-old, with ESPN's Adam Schefter saying the only offers on the table were practically pick swaps.

"The market for Anthony Richardson was soft..

If there was a market for him the Colts would have traded him" ~ @AdamSchefter #PMSLive pic.twitter.com/EesvKHxB3H
— Pat McAfee (@PatMcAfeeShow) March 31, 2026

Across 15 starts for the Colts, Richardson has thrown for 2,400 yards, 11 touchdowns, and 13 interceptions on a 50.6% completion rate. On the ground, Richardson has run for 634 yards on 115 carries with 10 more touchdowns.

While his athleticism has remained evident in the ground game, his inconsistency as a passer and struggles with accuracy have limited his effectiveness as a full-time starter. In today’s NFL, where efficiency in the passing game is paramount, those shortcomings have proven difficult to overlook.

Coming out of college, the main concern with Richardson was his inexperience. He had just 13 career starts at Florida, and after three years at the professional level, he's only added 15 more starts. The Colts never got a true opportunity to evaluate Richardson's game because he could never stay on the field.

Anthony Richardson will almost certainly be a first-round pick. But where will he land? Syndication Gainesville Sun | Matt Pendleton / USA TODAY NETWORK

Meanwhile, Daniel Jones capitalized on his opportunity. Before suffering a torn Achilles tendon late in the 2025 season, Jones led the Colts to an 8–2 start and finished with over 3,100 passing yards, 19 touchdowns, and just 8 interceptions. His early-season performance, combined with strong leadership reviews from both the locker room and ownership, solidified his standing within the organization.

With Jones cemented as the team's starter and Riley Leonard developing behind him, Richardson has become expendable. The Colts aren't afraid to keep him on the roster for another year, but he would have to battle it out with Leonard for the QB2 job this summer.

All of this context makes Indy's fifth-year option decision fairly straightforward. Exercising the option would require a fully guaranteed financial commitment for a player likely to be a backup quarterback. Declining the option, on the other hand, carries little downside.

If no trade suitor is found over the next couple of months, it looks like Richardson could be on the roster for another season. The fifth-year option denial will simply be another step toward closing one of the more turbulent chapters in team history.

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