The Indianapolis Colts have given quarterback Anthony Richardson permission to seek a trade, a move that effectively turns the former No. 4 overall pick into one of the offseason’s most interesting “fresh start” candidates before free agency even arrives.
Richardson’s agent, Deiric Jackson, said the Colts have allowed him to explore trade options, and the decision was communicated during a Thursday meeting that included Colts general manager Chris Ballard and Richardson’s camp. Ballard also indicated he is willing to work with Richardson to find a landing spot that makes sense.
The Colts’ direction at quarterback has been trending this way for a while. Richardson lost a preseason battle with veteran Daniel Jones last season and slid into the No. 2 role. Indianapolis has been operating with the intent to bring Jones back as the starter moving forward, and that reality leaves Richardson without a clear path to QB1 in 2026 if he stays.
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Richardson’s three-year run in Indianapolis has been defined as much by missed time as by development. He’s started 15 games since being drafted in 2023, throwing 11 touchdowns and 13 interceptions. He missed 13 games after shoulder surgery as a rookie and then missed additional time in 2024 due to multiple injuries.
Last season ended in a bizarre way. Richardson suffered a fractured orbital bone in a pregame warmup incident and finished the season on injured reserve. Jackson said recent medical consultations indicate Richardson’s vision has been restored, with one physician noting a recent test showed 20/20 vision when using both eyes. Ballard said earlier this week the vision issues were “trending in the right direction” and that Richardson was “cleared to play.”
Ballard’s public message on Richardson has been supportive even as the roster signals moved in the opposite direction. Asked about Richardson’s future, Ballard said, “I still believe in Anthony.”
From a cap and calendar perspective, the timing is clean. Richardson has one year left on his rookie deal unless the Colts exercise his 2027 fifth-year option. His 2026 compensation includes a $1.145 million base salary and a $4.24 million roster bonus due in August. The Colts would save $5.385 million in cap space, with $5.43 million in dead money, if he is traded before June 1.
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The Colts’ quarterback depth chart picture is also coming into focus. Indianapolis is expected to move forward with Jones and 2025 draft pick Riley Leonard as the top two quarterbacks. Jones suffered a torn Achilles tendon in early December but is on schedule to return for the start of next season. Jones is also a pending free agent, and Ballard said he hopes the team can re-sign him without using the franchise tag.
Richardson’s market now becomes the next question, and the list of possible fits is already getting sketched out. Five teams frequently pointed to as logical trade destinations are:
Arizona Cardinals: A possible opening if Kyler Murray’s future changes. Arizona’s roster features tight end Trey McBride plus wideouts Marvin Harrison Jr. and Michael Wilson.
Miami Dolphins: A team that could be in the market for a cheaper starter option while sorting through its quarterback contract math, with De’Von Achane as a central offensive piece to support a potential Richardson acquisition.
Pittsburgh Steelers: A potential style shift if Pittsburgh wants to add a different kind of athlete at quarterback. The Steelers were last in intended air yards per pass attempt in 2025 (5.9), while Richardson’s Colts led the league in 2024 intended air yards and Richardson averaged 12 air yards per attempt.
Minnesota Vikings: A team looking for competition for J.J. McCarthy, with Richardson positioned as a challenger if other veteran options don’t materialize.
Kansas City Chiefs: A stability play where Richardson would not be competing with Patrick Mahomes for the job, but could be valuable depth while Mahomes rehabs a torn ACL suffered in Week 15, and Andy Reid’s offense could tailor a package around Richardson’s skill set.
None of those possibilities guarantees a deal, but the Colts granting permission changes the process. It gives Richardson a chance to find a clearer runway, and it gives quarterback-needy teams a chance to chase upside without paying full price for a top-of-draft rookie.
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