INDIANAPOLIS — Quarterback Anthony Richardson, the fourth overall pick in the NFL draft, and the Indianapolis Colts agreed to terms Monday on a four-year, $34 million contract that's fully guaranteed.
Richardson was one of the few remaining first-round picks who remained unsigned with training camps either underway or about to begin.
The contract includes an option for a fifth year.
The Colts are counting on the former Florida star to provide some long-term stability at the sport’s most important position. They drafted Richardson behind 2021 Heisman Trophy winner Bryce Young and C.J. Stroud but ahead of Kentucky’s Will Levis.
The 6-foot-4, 232-pound Richardson posted the fastest 40-yard dash time (4.43 seconds), along with the best vertical jump (40 1/2 inches) and broad jump (10 feet, 9 inches), of the 15 quarterbacks at the NFL combine.
He was a no-brainer for the Colts, who went 4-12-1 last season with three different starters. The question now is when will Richardson take over. A franchise that has had six different starters in as many seasons will chose between journeyman Gardner Minshew and Richardson during camp and the preseason.
The Colts are convinced Richardson can help them re-emerge as a playoff contender perhaps sooner than many expect. They’re also hoping he can become the long-term solution the franchise has sought since Andrew Luck’s surprise retirement in 2019.
Richardson started just 13 games in college and completed only 53.8% of his passes in 2022.
When Richardson, the No. 4 overall draft pick, makes his starting debut remains unclear, but it will largely depend on how quickly he masters new coach Shane Steichen's offense.
There are plenty of other issues, too.
The Colts believe their once stout offensive line can rebound from an abysmal season. They're hoping a healthy Jonathan Taylor returns to the form that made him the 2021 NFL rushing champ. And they're banking on third-round draft pick Josh Downs to bring speed and depth to the receiving group.
Defensively, the Colts were solid last season but need more pass rush, a healthy Shaquille Leonard and a largely untested group of cornerbacks to play well, especially after potential starter Isaiah Rodgers was released in the midst of a gambling scandal.