Stephen Holder reports that the Colts have officially declined the fifth-year option on former first-round QB Anthony Richardson.
Exercising Richardson’s option would have cost the Colts more than $22 million, which clearly wasn’t going to happen, given that he isn’t the starter.
Richardson, 23, declared for the draft following his redshirt sophomore season in 2022 and his first as a full-time starter at Florida. The Colts selected him with the No. 4 overall pick of the 2023 NFL Draft.
He signed a four-year, $36,874,031 contract with a $23,817,477 signing bonus and is now set to become an unrestricted free agent in 2027.
Richardson underwent season-ending shoulder surgery to repair his AC joint after going down in Week 5 of his rookie year. He then missed significant time in 2025 due to an eye injury.
In 2025, Richardson appeared in two games and completed one of his two pass attempts for nine yards.
We’ll have more on Richardson as the news becomes available.
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