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EspañolWhat will the salary cap ramifications be if the Indianapolis Colts trade quarterback Anthony Richardson?
It was reported on Thursday that the two sides have mutually agreed to seek a trade.
Richardson is about to enter the final year of his rookie deal. Between Richardson's base salary of $1.145 million and his roster bonus of $4.24 million, he is guaranteed $5.38 million this season, which is what the acquiring team would inherit.
For some context, as Over the Cap's Nick Korte pointed out, that salary cap hit would rank as the fifth-most in football among backup quarterbacks.
It's possible that the Colts could have to take on some of Richardson's salary to help facilitate the trade. Korte adds that when the Jets traded Zach Wilson to the Broncos, the two teams split his $5.45 million salary in half.
From the Colts' perspective, if they do not have to take on any additional portion of Richardson's contract, a $5.4 million dead cap hit will remain on the books for the 2026 season. That is from a prorated portion of Richardson's initial signing bonus.
Trading QB Anthony Richardson
— Spotrac (@spotrac) February 26, 2026
New Team Acquires
2026: $5.38M (gtd)
2027: $23.5M (proj. option)#Colts Dead Cap
2026: $5.4M
Richardson's 2027 option must be decided on by May 1st. pic.twitter.com/cOpDfPx1BX
Whichever team does trade for Richardson will have the option to either pickup or decline his fifth-year option for the 2027 season. This would keep him under contract for one more season, beyond 2026.
Over the Cap is projecting that Richardson's fifth-year option will be worth $23.55 million.
This article originally appeared on Colts Wire: Anthony Richardson trade: Salary cap impact for Colts and new team