Real Reason Indianapolis Colts Chose to Retain Anthony Richardson
Anthony Richardson is still with the Indianapolis Colts, at least for now, and the reason why says a lot about where his value stands across the league.
The former fourth overall pick has had a rough go of it since arriving in Indianapolis. Across 17 appearances over three seasons, Richardson has completed just 50.6% of his passes, thrown 11 touchdowns against 13 interceptions and posted a 67.8 career passer rating. Injuries have made things worse. In 15 starts, he's had an 8-7 record but he hasn't done much to quiet the doubts around him.
The picture got more complicated in March when the Colts signed Daniel Jones to a two-year, $88 million extension, making him the clear starter going forward. That move effectively pushed Richardson to the back of the depth chart and opened the door to bigger questions about whether he has a real path forward in Indianapolis or anywhere else in the NFL.
Richardson's Trade Market Has Stalled
Richardson requested a trade earlier this offseason, and the Colts allowed him to explore his options. Nothing came of it. There's been no real traction on a deal, and Indianapolis hasn't shown any interest in releasing him either. He returned Monday for voluntary offseason workouts after missing the previous two weeks, still on the roster with his future unresolved.
ESPN's Adam Schefter broke down the situation during a recent "SportsCenter" segment, explaining why the Colts haven't moved him despite the uncertainty on both sides.
"Right now, he's stuck in Indianapolis," Schefter said. "The value was not what the Colts would have wanted to make any potential trade. Rather than dealing away, the Colts figured it was best to hold on to him right now. Quarterbacks are currency. Their value doesn't go down, and even though there was not a team willing to surrender the type of draft pick compensation the Colts would want - now, doesn't mean that that won't happen."
"There could be injuries. There could be teams that have quarterback struggles. There might be somebody who's willing to pay more for Anthony Richardson in August than they were in April prior to or during the NFL draft," he added.
What the Colts Are Waiting For
When Indianapolis used the fourth pick in the 2023 NFL Draft on Richardson, the organization believed it had finally found its answer at quarterback. The stability it had been chasing since Andrew Luck walked away four years earlier. That bet hasn't paid off.
The Colts declined Richardson's fifth-year option last week, leaving just one year remaining on his rookie deal. The organization hasn't shut the door completely, but it hasn't committed to anything either. The current thought appears to hold him, let the market develop, and see if an injury or a roster shakeup somewhere else drives the price up.
Richardson is back in the building and the Colts are in no rush.
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This story was originally published May 7, 2026 at 9:26 AM.