The Indianapolis Colts and Anthony Richardson have agreed to terms on a four-year, $33.99 million fully guaranteed deal that includes a $21.72M signing bonus, per NFL Network's Ian Rapoport.
With the Colts set to report for training camp on Tuesday, July 25, Richardson and his fellow rookie draftee turned division rival, CJ Stroud (Houston Texans), struck deals with their respective teams. This comes just days after Bryce Young signed his contract with the Carolina Panthers.
The #Colts and No. 4 overall pick QB Anthony Richardson have agreed to terms on his 4-year, $33.99M fully guaranteed deal that includes a $21.72M signing bonus paid 100% upfront, per me and @TomPelissero. Deal done by agent @djackson_legacy. pic.twitter.com/CihRdM3YQO
— Ian Rapoport (@RapSheet) July 24, 2023
Colts sign Anthony Richardson to fully guaranteed contract
Had these aforementioned deals stalled out before getting to training camp, none of them would've been able to participate until pen hit paper. Thankfully, that remains a what-if scenario and Richardson, Stroud, and Young are now able to head into camp focused on one thing and one thing only: football.
The holdup(s) in question is due to top draftees making a push in recent years to change the traditional signing bonus from two to four installments to, ideally, one lump sum upfront.
"The primary disagreement is over the payment schedule of the signing bonus. Large signing bonuses in NFL contracts aren't customarily paid in one lump sum."Joel Corry (CBS Sports)
Traditionally, up until as of recent, all first rounders’ signing bonuses (top picks included) had been paid in two to four installments. Historically, the fourth-overall pick had never negotiated such a deal. That is until now, and the standing pat of Bryce Young and CJ Stroud helped this become reality.
FWIW: Anthony Richardson just became the first 4th overall pick in NFL history to receive his signing bonus upfront as a lump sum. pic.twitter.com/EjHKdO0HdN
— Noah Compton (@nerlens_) July 24, 2023
The most anticipated Colts draftee since Andrew Luck is now ready to make his mark in the NFL. WIth all rookie contracts now signed for Indianapolis, Anthony Richardson is ready establish himself as a belonging talent in the league alongside his 11 fellow Colts draftees.
Richardson will enter training camp and battle with veteran quarterback Garnder Minshew for the Colts QB1 spot. Being a rookie, Richardson has a lot of developing to do, but everyone will be watching to see if he develops enough to start Week 1.