The Indianapolis Colts are quickly running out of painless options on Anthony Richardson. The team still has not found a trade partner for the former No. 4 pick, leaving him stuck in limbo as the offseason picks up speed. With Daniel Jones locked in as the starter and the draft and free agency calendar closing in, Indianapolis has to decide whether to move Richardson, keep him as an expensive backup or swallow the cap hit.
According to IndyStar, general manager Chris Ballard told reporters that Richardson has asked for a fresh start and that the club has not yet found a taker. IndyStar also reports Richardson lost the starting job to Jones and that he has been cleared to play after suffering a fractured orbital bone and vision problems following a freak pregame equipment accident. Ballard said the team will keep evaluating its quarterback room as the offseason unfolds.
Cap Math: What A Cut Or Deal Would Cost
Moving on from Richardson is not just a depth chart decision, it is a financial one. Releasing him now would create roughly $5.4 million in dead money against the 2026 salary cap, according to Over The Cap, a number that helps explain why potential trade partners have been cautious.
Ballard's Update: Cleared To Play, Still Valued
Ballard told reporters Richardson has "been cleared to play" and called him "a great teammate," according to the team's account from the combine. Colts.com also reports Ballard praised 2025 sixth-round pick Riley Leonard as a player the club will evaluate as a potential No. 2, underscoring that Indy is weighing internal development alongside any outside offers.
What The Colts Can Do Next
With the organization signaling its commitment to Daniel Jones, and with reports that the club granted Richardson permission to seek a trade, Indianapolis faces a three-way choice: find a trade partner, carry him as an expensive backup, or cut him and eat the dead money. That strategic calculus will be shaped by the draft, teams' appetite for a developmental quarterback and how much draft capital Ballard is willing to spend, as noted by reporting from AP.
Ballard can keep working the phones and meetings in search of a deal, but the cap hit and Richardson's injury history make any move tricky. The next few weeks will tell whether the Colts can turn interest into actual compensation or accept a short-term loss to clear up a crowded path under center.
