Per Colts general manager Chris Ballard, who met with reporters Tuesday, Richardson has not rescinded his request, but the team intends to keep him alongside Daniel Jones and Riley Leonard into the regular season.
"It is," Ballard confirmed when asked if the trade request was still active. "I think they're realistic and we're realistic. We're not just giving him away, not going to do that."
How We Got Here
The situation dates back to February, when Richardson's agent approached Ballard about a possible trade, and the GM authorized Richardson's camp to explore its options.
Nothing materialized, largely because of what one analyst described as basic supply and demand, as most teams entered the summer with healthy quarterback rooms and little need to add.
Richardson eventually grew impatient waiting and reported for voluntary offseason workouts in May, saying he simply wanted to get back to work.
His path to the field in Indianapolis is blocked.
Jones won the starting job last offseason, led the Colts to an 8-5 record before a torn Achilles ended his season, and has since signed a two-year, $88 million extension while being fully cleared from the injury.
That leaves Richardson competing with Leonard for the backup role for as long as he remains on the roster.
Why A Deal Could Still Happen
Ballard's comments suggest the door is not fully closed, and the Colts' commitment to keeping all three quarterbacks could shift if another team makes an aggressive play.
The finances also work in favor of a potential move.
Richardson is due a roster bonus of roughly $4.24 million within the first 15 days of camp, and once the Colts pay it, any acquiring team would owe him only about $1.1 million for the 2026 season, making him a low-cost gamble.
A strong preseason could further boost his appeal, and teams like the Jets, Browns, and Steelers have been mentioned as clubs that quietly checked in.
The former No. 4 overall pick is still just 24 with elite physical tools, having been limited throughout his career by injuries, including a fractured orbital bone suffered in a freak pregame accident last season.
For now, Richardson stays in Indianapolis, but the request lingers, and a single injury elsewhere could quickly change everything.
