The Indianapolis Colts fully kick off training camp on July 25 at Grand Park in Westfield, Indiana. Before that happens, though, the franchise wrapped up one final piece of business before starting the 2023 campaign. That is signing No. 4 overall pick Anthony Richardson to a fully-guaranteed $34 million contract to be the Colts' new QB.

On Monday, NFL Network insiders Ian Rapoport and Tom Pelissero broke the news that “The #Colts and No. 4 overall pick QB Anthony Richardson have agreed to terms on his 4-year, $33.99M fully guaranteed deal that includes a $21.72M signing bonus paid 100% upfront.”

NFL rookie deals are relatively pro forma, with the years and total dollars set in stone before the new player signs his deal. However, things like how the money is split up in bonuses and when those bonuses are paid are negotiable between the player, his agents, and the team.

Getting a $21.72M signing bonus with the entire bonus paid immediately is a good deal by Richardson’s agent, Deiric Jackson. The other top quarterbacks in the class — Bryce Young of the Carolina Panthers and CJ Stroud of the Houston Texans — did get similar deals.

Now, Richardson heads into Colts training camp as the fully signed No. 1 QB on the team. Veteran QB Gardner Minshew and Sam Ehlinger are also both on the roster, but new head coach Shane Steichen and the Colts organization will give the former Florida Gators signal-caller every opportunity to win the job for 2023 to start his career development.

Anthony Richardson and the Colts start their preseason games on August 12 vs. the Buffalo Bills and take on the Jacksonville Jaguars in Week 1 of the regular season.