The Indianapolis Colts have made a clear decision about their quarterback situation in 2026: Daniel Jones is their guy, Riley Leonard is their backup, and Anthony Richardson’s future is basically up in the air. Richardson hasn’t requested a trade, according to sources, but there’s growing skepticism within the organization about whether there’s actually a path forward for the 2023 fourth-overall pick in Indianapolis. The franchise hasn’t publicly committed to him the way they’ve committed to Jones and Leonard. They’ve remained neutral on Richardson, which is the worst possible position for a player hoping to salvage his career. It means the organization is keeping options open, which primarily means trading him away.
Richardson’s injury luck has been genuinely brutal
He played just five snaps in 2025 after suffering a freak pregame warmup accident that fractured his orbital bone and damaged his eye. That capped off a 2024 season where he struggled with inconsistency a league-worst 47.7% completion rate, 12 interceptions despite going 6-5 as a starter. He started his rookie year 2024 promisingly after being benched midseason, engineered game-winning drives against the Jets and Patriots, then lost momentum when a back issue sidelined him. The injury narrative around Richardson has basically defined his entire professional career.
What’s genuinely striking about the Colts’ messaging is the silence around Richardson’s future. General manager Chris Ballard was asked directly whether it was time for a split and basically punted: “That’s a very fair question.” He offered no commitment, saying instead they’d “see how it plays out going forward.” Coach Shane Steichen took the same approach. Owner Carlie Irsay-Gordon actually felt worse for Richardson’s injuries than addressing his future. That’s not confidence. That’s an organization that’s moved on but hasn’t publicly said so.
The reality is that Richardson was drafted to end Indianapolis’s quarterback search after Andrew Luck left. Fourth overall, generational potential, supposed to be the solution. Instead, he’s become a cautionary tale about draft positioning and injury misfortune. One shoulder injury derailed his rookie season. One terrible season and midseason benching cost him credibility. One eye injury ended his 2025 before it started. At some point, organizations move on from that narrative.
However, Richardson actually has trade value if he’s healthy
The Colts need to decline his 2027 fifth-year option by May 1, but they can trade him before June 1 and save $5.385 million against the cap. He’s owed a $4.24 million roster bonus in August and counts $10.82 million against the cap in 2026. Recent quarterback trades Kenny Pickett (twice), Sam Howell (twice), Justin Fields, Zach Wilson, Malik Willis, Taylor Heinicke all fetched draft-pick compensation. Richardson, being younger and higher-drafted, could theoretically command similar value.
What’s remarkable is how optimistic Richardson remains despite the organizational ambiguity. After training camp, he showed improvement competing against Jones. At 24 years old (won’t turn 24 until May), he still theoretically has time to develop. When asked if he can fulfill his top-five pick potential, he didn’t hesitate: “No doubt. If I’ve still got a chance to play football, then it’s always out there.” That’s either genuine confidence or denial about his situation.
The Colts’ decision suggests they’re not betting on Richardson’s development
They’ve committed to Jones despite his Achilles injury. They’ve embraced Leonard. Richardson is the orphan quarterback with no committed role and an organization that’s publicly uncommitted to his future. That typically precedes a trade.
For Richardson, the next few months will determine whether Indianapolis tries to revive his career or officially moves on. The silence suggests they’ve already decided. They’re just waiting for a trade offer to make it official.
