Friday was the deadline for NFL teams to exercise the fifth-year option for players taken in the first round of the 2023 NFL Draft class. While most of the players from that class had their fifth-year options picked up, a few teams made the decision to decline that opportunity. The Indianapolis Colts were one of the most prominent, declining to exercise the fifth-year option on quarterback Anthony Richardson.
That means he is now scheduled to become an unrestricted free agent following the 2026 season.
Had the Colts exercised the option, it would have guaranteed him a $22 million salary for the 2027 season.
Colts decline fifth-year option on quarterback Anthony Richardson
Richardson, the No. 4 overall pick in the 2023 class, is the highest pick from that year to not have their fifth-year option picked up, and it is another sign that his time with the franchise is likely coming to an end.
The Colts were hoping that he could be their next franchise quarterback, but it never worked out for a variety of reasons.
One of the biggest was the simple fact that he has had a terrible time staying on the field, dealing with significant injuries throughout the first three years of his career. He plays with a fearless mindset when it comes to running the ball, and has not always done a good job protecting himself. The Colts also did a miserable job protecting him by not putting a good enough offensive line in front of him.
Those two things have resulted in him taking an absolute beating on the field.
When he has been healthy, he has struggled with consistency and accuracy in the passing game. There is no denying his arm talent and running ability, and he has flashed some signs of big-play ability. He has delivered some of the most eye-popping throws in the NFL over the past couple of years and has hit several big plays that only a small number of quarterbacks can make. But he has yet to develop the consistency with hitting the mid-level and shorter throws that quarterbacks need to consistently make.
The question now becomes what the Colts will do with him for this season. Richardson requested a trade in February and received permission to speak with other teams to try to facilitate a trade, but nothing has come together.
He is still young enough that somebody might be willing to gamble on the talent and see if they can unlock something the Colts could not. There are plenty of examples of young quarterbacks who failed in bad situations and excelled with a fresh start elsewhere. It only takes one team to be willing to take that chance.