The Indianapolis Colts will not pick up the fifth-year team option for the 2027 season on quarterback Anthony Richardson Sr.’s rookie contract, a source confirmed to Stephen Holder of ESPN.
This decision marks a significant development for the franchise and their former first-round selection as they navigate his long-term future in Indianapolis. Richardson, who was selected with the No. 4 overall pick in the 2023 NFL Draft, is now slated to see his current contract expire following the 2026 season rather than being locked in through 2027.
The fifth-year option is a standard mechanism for rookie contracts of first-round picks, providing teams with an additional year of control at a fully guaranteed salary. By declining the option at this juncture, the Colts maintain greater financial flexibility while continuing to evaluate Richardson's progression and durability on the field. Since entering the league, Richardson has displayed elite dual-threat capabilities but has also dealt with various injury setbacks that have limited his total snaps.
While the move prevents the 2027 season from being automatically guaranteed, it does not prevent the team and player from negotiating a long-term extension in the future. The Colts will continue to move forward with Richardson as their primary signal-caller as he enters the next phase of his rookie deal.
This is a developing story. Check back for updates.
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