Indianapolis Colts News & Rumors

Anthony Richardson and the Colts have seemed destined for a split for almost a year. The first writing appeared on the wall when the team signed Daniel Jones to compete for the starting quarterback job; by midseason, it was covered.

Jones won the training camp competition and led Indianapolis to a 7-1 start, seemingly establishing himself as the Colts’ next franchise quarterback. Richardson, meanwhile, had been sidelined by a freak orbital fracture and was even the subject of some trade deadline chatter that another team could see him as a reclamation project. He requested a trade this offseason, and the club worked to oblige him, but “nothing materialized,” assistant general manager Chris Dodds said this week (via Mike Chappell of FOX59).

Richardson still has just 28 starts and 743 passing attempts in his college and pro careers, presenting the concerns about both inexperience and durability. Dodds reiterated that 24-year-old is “good to go,” but uncertainty about his eye injury was a factor in his lack of trade interest, per ESPN’s Stephen Holder. He is also owed $5.4MM in guaranteed compensation this year, and another team may not want to pick up that tab for a developmental project.

The Colts are not considering a release, Holder adds. They would still owe Richardson that money, and especially with Jones recovering from last year’s Achilles tear, it makes little sense for them to move on from their former No. 3 pick without any financial relief or trade compensation.

“He’s back in the fold right now,” head coach Shane Steichen said at Phase 2 of the team’s offseason program (via Chappell).

Wthout significant interest from other teams, Richardson may now be best served by staying in Indianapolis, where he can compete with Riley Leonard for the backup quarterback gig. Until jones is back on the field, that job comes with first-team reps, though Steichen declined to elucidate any sense of a pecking order.

There are indications that the team is not completely out on Richardson’s talent and ability to contribute to the team. He had his best training camp in 2025, according to Holder, and though his eye injury kept him from returning to in-game action, he impressed as the scout team QB late in the season. In fact, Holder adds, Richardson would have taken over as the Colts’ starter had he been healthy when Jones went down.

Jones has a lengthy injury history of his own, too. Any setback in his current recovery could thrust Richardson back into a starting role this year. Theoretically, the Colts could get out of their contract with Jones next offseason, though that would require a remarkable turnaround from Richardson. More likely, he will be looking to contribute in any way possible this year to boost his stock before hitting free agency in 2027.

Anthony Richardson was absent from the beginning of the Colts’ offseason program. After two weeks away from the team, though, things have changed.

Richardson has reported to the Colts for today’s work, ESPN’s Stephen Holder reports. Today’s development comes shortly after Indianapolis made the expected decision of declining the former No. 4 pick’s fifth-year option. As a result of that move, Richardson is a pending 2027 free agent.

It came as little surprise when team and player were apart from each other at the beginning of voluntary workouts. Richardson requested a trade earlier this offseason, and with Daniel Jones atop the depth chart Indianapolis could stand to move on in his case. As general manager Chris Ballard recently confirmed, however, no trade calls were made during last month’s draft. An extended Richardson waiting period could thus be in store.

All work between now and June’s minicamp is voluntary. Richardson will now be in store to participate in team drills as he awaits clarity on his future. The soon-to-be 24-year-old has totaled only 15 starts through three seasons in the NFL, with injuries and inconsistent play when on the field defining his Colts tenure. That will hinder Richardson’s stock in any potential trade, and many teams added to their QB depth charts by selecting a signal-caller on Day 3 of the draft (or earlier, in a few cases).

Ballard has suggested the Colts could keep Richardson in the fold through 2026, and the nature of the Florida product’s trade market will be worth watching as the offseason unfolds. Riley Leonard looms as Indianapolis’ QB2 in the event Richardson winds up being dealt. It remains to be seen when or if that will take place, but suitors could of course emerge if injuries strike during practices around the league.

Richardson is owed $1.15MM in salary for the coming season. He could be viewed as a low-cost option for teams seeking a developmental passer or a one-year rental as a result. Otherwise, on-field preparation for a fourth season in Indianapolis will begin today.