The Indianapolis 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.
The decision adds uncertainty to Richardson’s future with the club. Named the starting quarterback just two weeks into his first training camp, Richardson requested a trade in February and was granted permission to speak with other teams about a potential deal.