The Indianapolis Colts are heading into a pivotal offseason with more questions than answers-especially at the quarterback position. At the center of it all is the looming decision on Anthony Richardson, the athletic but inconsistent passer who was once viewed as the franchise's future.
Now, just three seasons into his career, the Colts have to decide whether to pick up his fifth-year option. And the clock is ticking.
The $20 Million Question: What to Do with Anthony Richardson?
Richardson, the fourth overall pick in the 2023 NFL Draft, has shown flashes of the physical tools that made him such a tantalizing prospect-elite athleticism, a cannon for an arm, and the kind of mobility that can give defensive coordinators nightmares. But in the NFL, tools only get you so far.
Production matters. Consistency matters.
And so far, Richardson hasn’t delivered enough of either.
Through 17 starts, he’s completed just 50.6% of his passes-a number that’s not just below league average, it’s alarmingly low in today’s pass-happy NFL. Even quarterbacks on struggling teams typically hover around 60%, which is now considered the bare minimum for a reliable starter. Richardson’s 11 touchdowns to 13 interceptions don’t help his case either, especially in Shane Steichen’s offense, which is designed to put quarterbacks in positions to succeed.
The Colts have until May 1 to decide whether to pick up Richardson’s fifth-year option, which would lock him in for the 2027 season at a price tag of roughly $20 million. That’s a hefty investment for a player who hasn’t proven he can be a consistent NFL starter.
And it’s not just about the money-it’s about the message it sends. Committing to Richardson now would signal faith in his development, but the on-field results so far suggest that faith might be misplaced.
A Trade Could Be the Best Path Forward
Sometimes, a fresh start is what a young quarterback needs. Richardson’s physical gifts will always be intriguing to other teams, and there may still be organizations willing to bet they can unlock his potential. For the Colts, moving on could clear the way for a more stable quarterback room-and allow Steichen to fully implement his vision without trying to force-fit a square peg into a round hole.
Trading Richardson would also help avoid the awkward situation of having a former top-five pick sitting on the bench or struggling in spot duty. If he's not the future in Indianapolis, it might be better for both sides to part ways now, rather than let the uncertainty linger.
Enter Riley Leonard: The Rookie Who Showed Something
While Richardson’s trajectory has hit a snag, Riley Leonard quietly made a strong case for himself late in the season. The second-year pro didn’t get much playing time as a rookie, but when he did, he turned heads.
In Week 18 against the Houston Texans-a team with one of the league’s better defenses-Leonard went 21-of-34 for 270 yards and two touchdowns, adding a rushing score as well. Yes, he threw a pick, but overall, it was a poised and promising performance. He looked decisive, accurate, and comfortable in the pocket-traits that have been missing from the Colts’ quarterback play far too often in recent years.
It’s a small sample size, no doubt. But it was enough to suggest that Leonard deserves a serious look as the team’s potential starter-or at the very least, as a reliable QB2 with upside.
The Wild Card: Daniel Jones’ Future in Indy
All of this quarterback chatter hinges on one more major decision: whether or not the Colts re-sign Daniel Jones. The veteran quarterback is set to hit free agency, and while he may not be a long-term answer, he provided stability when on the field. If the Colts let him walk, they’ll be left with Leonard and Richardson battling for the starting job-and that’s a risky proposition for a team looking to stay competitive.
The free-agent market isn’t exactly brimming with can’t-miss options, and without a first-round pick in the upcoming draft, the Colts are in a tough spot when it comes to adding another high-upside passer. That makes the internal evaluation of Leonard and Richardson all the more important-and urgent.
Bottom Line: A Defining Offseason for the Colts' QB Room
This offseason could reshape the Colts’ quarterback depth chart for years to come. The decision on Anthony Richardson’s fifth-year option is a major domino, but it’s just one piece of a larger puzzle. Whether it’s sticking with Daniel Jones, giving Leonard a bigger role, or exploring a trade for Richardson, Indianapolis has to get this right.
Quarterback uncertainty has haunted the Colts since Andrew Luck’s retirement. This offseason, they have a chance to bring some clarity to the most important position on the field-or risk continuing the carousel.