The Indianapolis Colts have their quarterback returning. After applying the transition tag on Daniel Jones, he has agreed to terms on a new deal for as much as $50 million a season over two years. The move seemed obvious after wide receiver Alec Pierce was brought back. Pierce needs Jones, and Jones needs Pierce. Neither needs Anthony Richardson.
What comes next should be clear. Indy doesn't need three quarterbacks on the roster, at least not three that are expected to be around long-term. If Jones can't play in Week 1 after tearing his Achilles tendon in Week 14 of this past season, the team can just start Riley Leonard in his place. Richardson can seek a trade, but if he can't find one, he should be released.
Who would back up Leonard early in 2026? The team would have options, even if it is elevating a practice squad player such as Seth Henigan. Would Indianapolis be expecting to win with that kind of player? No, but how many times is any team expected to win with a third-string QB?
After bringing Daniel Jones back, the Indianapolis Colts need to make a move with Anthony Richardson
Keeping Richardson around could affect the Colts' culture. He isn't a bad person, of course, but it is clear the team doesn't want him. Having a player like that in the locker room is just, well...weird.
The financial positive in trading Richardson is that it would save the team $5,385,549. If Indy releases the quarterback, the Colts save nothing. A trade would be better, but either way is the real answer to Richardson's near-future.
Anthony Richardson has to hope he can work out a trade, too. The team has allowed him to seek his own, and if he finds a home elsewhere, he will know that the team wants him. Maybe Indy doesn't get much back in return for him, but anything is better than the quarterback standing on the sidelines, understanding he is paid by an employer that ideally wants to fire him.
Riley Leonard also should know that his place on the team is as QB2. A step up from most of last season when he was QB3, and was passed over after Jones was injured for long-retired Philip Rivers. When Leonard finally got a chance to play in Week 18, he was quite good against a very good Houston Texans defense.
To get rid of wide receiver Michael Pittman's contract, the Indianapolis Colts were willing to accept a seventh-round pick from the Pittsburgh Steelers. Ballard might need to accept the same for Anthony Richardson. The risk of keeping him is simply far too much.