With offseason programs set to begin for the Indianapolis Colts on Apr. 21, quarterback Anthony Richardson is not in attendance as he seeks a trade.

On Monday, GM Chris Ballard discussed where things stand with Richardson and the pending trade talks. In short, not much has changed heading into the 2026 NFL draft.

"He's down in Jacksonville training," Ballard said of Richardson. "I have talked to his trainer, and I talk to him often, and his agent. He's in good spirits. Nothing has transpired at this point. I don't know any question you're going to ask other than will he be here? Well, he could be. We'll see, but as of right now, he's down there training in Jacksonville. We'll kind of work through that as we go."

Although it was reported during the NFL combine in late February that Richardson and the Colts were exploring the possibility of a trade, ESPN's Adam Schefter reported recently that a trade hasn't taken place because Richardson's market was "soft."

When speaking with reporters at the NFL league meetings a few weeks ago, Ballard didn't rule out the idea of Richardson remaining with the team. The Colts want to ensure they are getting a fair return for him.

While Richardson's market may be soft at the moment, that could change when the NFL draft arrives later this week.

An orbital fracture landed Richardson on injured reserve early on last season. He did eventually return to practice later in the year, but wasn't active on game days. Richardson's vision is an "important aspect" of the trade talks.

“He’s still recovering a little bit," Ballard said of the injury, "but he’s cleared for activity and doing everything.”

#Colts GM Chris Ballard on QB Anthony Richardson:• Fifth-year option? “We have not even talked about it.”• Can AR fully see? “He’s still recovering a little bit, but he’s cleared for activity and doing everything.”• AR’s vision “an important aspect” in trade talks. pic.twitter.com/cMYo30luej

By May 1st, the Colts must either pick up or decline Richardson's fifth-year option for the 2027 season, although that is not something on their radar at the moment.

“We have not even talked about it," Ballard said of Richardson's fifth-year option. Over the Cap is projecting that Richardson's option will be worth $22.48 million in 2027, which is fully guaranteed. So you can anticipate that if Richardson is still on the team come May, the Colts will decline it.

This article originally appeared on Colts Wire: 2026 NFL draft: Where Colts and Anthony Richardson trade talks stand