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Richardson's Contract: $27.9M Guaranteed, $13.8M Bonus Paid

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  Published in Sports and Competition on Tuesday, March 10th 2026 at 22:25 GMT by Sporting News
      Locale: Indiana, UNITED STATES

Decoding the Contracts

Let's delve into the financial details. Richardson's four-year rookie contract is guaranteed for $27.9 million, with a significant $13.8 million signing bonus already paid. He currently counts $7.2 million against the 2026 salary cap. This is standard for a top-five draft pick. The financial commitment is substantial, but represents an investment in future potential.

Minshew, on the other hand, signed a two-year, $19 million deal with the Colts. He is slated to receive a $5 million signing bonus in March 2025, and carries a $10 million salary for the current season. Cutting Minshew isn't a simple cost-saving measure. It would result in $6 million in dead cap space - funds that could otherwise be allocated to bolstering other areas of the team. This dead cap hit is the key factor in the Colts' predicament.

The Options on the Table

The Colts have several potential paths forward, each with its own set of risks and rewards.

• Ride with Richardson: If Richardson demonstrates significant progress in his recovery and shows he's ready to take the reins, the Colts could release Minshew, absorbing the $6 million dead cap hit. This allows them to fully invest in Richardson's development and clear cap space for future acquisitions. However, this is a high-risk, high-reward strategy. An injury or regression from Richardson could leave the Colts scrambling for a capable quarterback.
• Keep Minshew as a Bridge: The Colts could retain Minshew as a reliable starter while Richardson continues to develop. This provides a stable presence at quarterback and allows Richardson to learn behind a veteran. However, it limits Richardson's playing time and could hinder his growth. It also ties up $10 million in cap space that could be used elsewhere.
• Trade Minshew: Exploring a trade for Minshew is a possibility, but presents challenges. His age (30) and upcoming signing bonus make him less attractive to teams looking for a long-term solution. The Colts might have to accept a less-than-ideal return to offload his contract.
• The Dark Horse - Another Veteran: The Colts could explore signing another veteran quarterback as competition for Richardson, potentially allowing them to trade or release Minshew. This strategy provides more flexibility but introduces further uncertainty.

The Path Forward

The most likely scenario involves a careful assessment of Richardson's progress throughout the offseason and training camp. The Colts will need to evaluate his arm strength, mobility, decision-making, and overall confidence. If he demonstrates clear improvement and appears ready to lead the offense, they will likely move on from Minshew. However, if there are lingering concerns, keeping Minshew as a safety net - even with the financial implications - might be the most prudent course of action. The Colts' decision will hinge on a delicate balance between honoring their investment in Richardson and ensuring they have a capable quarterback on the field every week. This is more than a quarterback competition; it's a strategic gamble that will shape the Colts' fortunes for years to come.