Colts opt out of $22.4M fifth-year option for Anthony Richardson, trade expected

The Indianapolis Colts announced they will not exercise the fifth-year option on quarterback Anthony Richardson’s rookie contract. The decision, which comes with a $22.483 million price tag for 2027, was expected as Richardson battles injuries and inconsistency.

According to Mike Chappell of Fox 59, the Colts faced a Friday deadline to make a decision. General Manager Chris Ballard said Saturday that he “hadn’t given too much thought” about the fifth-year option, but added that it didn’t take much consideration given Richardson’s performance.

“I hadn’t given too much thought about it,” Ballard said. “But it didn’t take much consideration.”

The Colts’ decision comes after Richardson, the fourth overall pick in the 2023 NFL Draft, has started only 15 games in two seasons because of injuries and inconsistency. He is still recovering from an eye injury he suffered in October 2023.

Colts cite injuries and inconsistency in Richardson’s decision

The Colts’ decision not to exercise the fifth-year option was based on several factors, including:

• Richardson has started only 15 games because of injuries and inconsistency.
• He is still recovering from an eye injury he suffered in October 2023.
• The Colts faced a Friday deadline to make a decision on the fifth-year option.

What’s next for Anthony Richardson and the Colts

As expected, the Colts are now seeking to trade Richardson. The decision not to exercise the fifth-year option means Richardson will be a free agent in 2025 if the Colts do not sign him to a new contract before his current deal expires.

If the Colts trade Richardson, he will join a new team as he continues to recover from his eye injury and seek consistency in his performance.

Key dates and deadlines for Anthony Richardson

• May 10, 2024 – Colts faced deadline to decide on fifth-year option for Richardson.
• October 2023 – Richardson suffered eye injury, still recovering as of May 2024.
• 2027 – Fifth-year option would have paid Richardson $22.483 million.

“He’s still recovering from an eye injury from last October,” Ballard said. “So that was part of the consideration.”

The Colts’ decision not to exercise the fifth-year option on Richardson’s contract reflects their assessment of his performance, injuries, and the financial implications of the option.

Colts’ Ballard addresses Richardson’s future and trade plans

General Manager Chris Ballard addressed Richardson’s future and the Colts’ trade plans during his Saturday comments. Ballard emphasized that the decision not to exercise the fifth-year option was straightforward given Richardson’s circumstances and the team’s goals.

“It didn’t take much consideration,” Ballard said. “But it wasn’t something I hadn’t given thought to.”

Ballard also noted that the Colts had not given much thought to the fifth-year option itself, focusing instead on Richardson’s performance and the team’s needs.

Injury history clouds Anthony Richardson’s fifth-year option decision

Richardson’s injury history played a significant role in the Colts’ decision not to exercise the fifth-year option on his contract. Richardson has battled multiple injuries during his NFL career, including:

• Eye injury sustained in October 2023 (still recovering as of May 2024).
• Multiple injuries limiting his availability to only 15 starts in two seasons.
• Inconsistency in performance despite being a top draft pick.

The Colts’ decision reflects their assessment of Richardson’s injury history, performance, and the financial implications of exercising the fifth-year option.