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.
Over 11 games in 2024, Richardson completed just 47.4% of his passes for 1,814 yards and tossed 12 interceptions against eight touchdowns through the air, while grinding out 499 yards and six touchdowns on the ground on 86 rushing attempts. He finished tied at 25th for the NFL AP Comeback Player of the Year Award with one fifth-place vote.
Last season, Jones was signed as a free agent and ultimately earned the starting role after Richardson missed a significant portion of the offseason due to an aggravated joint in his throwing shoulder, followed by an orbital bone fracture sustained during pregame warmups in Week 6. He appeared in just two games in which he completed just one of two passing attempts for 31 yards while finishing with minus-1 yards on four attempts on the ground.
In 17 appearances over three seasons, Richardson completed 50.6% of his attempts with 11 touchdowns and 13 interceptions.
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This article originally appeared on Gators Wire: Anthony Richardson's 2027 team option declined by Indianapolis Colts
