Stephen HolderMay 1, 2026, 06:29 PM ETCloseStephen joined ESPN in 2022, covering the Indianapolis Colts and NFL at large. Stephen finished first place in column writing in the 2015 Indiana Associated Press Media Editors competition, and he is a previous top-10 winner in explanatory journalism in the Associated Press Sports Editors national contest. He has chronicled the NFL since 2005, covering the Tampa Bay Buccaneers from 2005-2013 and the Colts since 2013. He has previously worked for the Miami Herald, Tampa Bay Times, Indianapolis Star and The Athletic.Follow on XMultiple Authors
Schefter to McAfee: The market for Anthony Richardson was soft (2:06)Adam Schefter joins Pat McAfee to report the latest on the Colts’ plans for quarterback Anthony Richardson. (2:06)
INDIANAPOLIS — The Colts will not pick up the fifth-year team option on quarterback Anthony Richardson Sr.’s rookie contract for the 2027 season, a source confirmed to ESPN.
Friday was the deadline for NFL teams to exercise the fifth-year options on 2023 first-round selections. With the Colts declining to do so, as expected, Richardson, the fourth pick in 2023, will hit unrestricted free agency after the 2026 season. Exercising Richardson’s option would have come with a guaranteed salary of more than $22 million.
Although no deal has materialized yet, it remains unclear whether Richardson will stay with the Colts for the 2026 season. He hopes to land elsewhere as he seeks a fresh start after the Colts signed quarterback Daniel Jones to a two-year, $88 million extension last month to be the team’s starter for the foreseeable future.
General manager Chris Ballard recently pointed out that it’s possible Richardson remains with the team.
“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, a raw prospect who started just 13 games at the University of Florida, has struggled with performance and injuries in his short Colts tenure. He missed 17 games because of injuries during his stint as the starter in 2023-24, then spent most of last season on injured reserve after an accident during pregame warmups left him with an orbital fracture.
In 17 appearances over three seasons, Richardson has completed 50.6% of his attempts with 11 touchdowns and 13 interceptions.
Schefter to McAfee: The market for Anthony Richardson was soft (2:06)Adam Schefter joins Pat McAfee to report the latest on the Colts’ plans for quarterback Anthony Richardson. (2:06)
Adam Schefter joins Pat McAfee to report the latest on the Colts’ plans for quarterback Anthony Richardson. (2:06)
Stephen HolderMay 1, 2026, 06:29 PM ETCloseStephen joined ESPN in 2022, covering the Indianapolis Colts and NFL at large. Stephen finished first place in column writing in the 2015 Indiana Associated Press Media Editors competition, and he is a previous top-10 winner in explanatory journalism in the Associated Press Sports Editors national contest. He has chronicled the NFL since 2005, covering the Tampa Bay Buccaneers from 2005-2013 and the Colts since 2013. He has previously worked for the Miami Herald, Tampa Bay Times, Indianapolis Star and The Athletic.Follow on XMultiple Authors
CloseStephen joined ESPN in 2022, covering the Indianapolis Colts and NFL at large. Stephen finished first place in column writing in the 2015 Indiana Associated Press Media Editors competition, and he is a previous top-10 winner in explanatory journalism in the Associated Press Sports Editors national contest. He has chronicled the NFL since 2005, covering the Tampa Bay Buccaneers from 2005-2013 and the Colts since 2013. He has previously worked for the Miami Herald, Tampa Bay Times, Indianapolis Star and The Athletic.Follow on X
Richardson has not attended voluntary offseason workouts.
Fox59 in Indianapolis was first to report the Colts would not pick up Richardson’s option.