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Speaking for the first time since the Indianapolis Colts named Daniel Jones their starting quarterback over Anthony Richardson earlier this month, general manager Chris Ballard shot down rumors on Wednesday that the team would explore trading the former No. 4 overall pick in the 2023 NFL Draft.

"No, we are not trading him," Ballard said.

Ballard's stance is particularly notable after Richardson's agent, Deiric Jackson, told ESPN that there would be "a lot to discuss" with the organization and questioned if the decision was predetermined after the franchise signed Jones to a one-year, $14 million deal earlier this offseason.

Ballard acknowledged that he has been in communication with Richardson's agent but emphasized that the franchise isn't "done" with Richardson.

"Not a lot of talks with AR, but have had a lot of talks with his agent," Ballard said. "Coaching staff, they talk to Anthony a bunch. One thing that's getting overshadowed a little bit is Daniel. Both of them competed. ... And at the end of the day, Daniel won the job. Does that mean we are done with Anthony? No. But I don't want to dismiss the run he's had here."

The first two seasons of Richardson's NFL career have been full of ups and downs. He's appeared in 15 games, 11 of which came during the 2024 campaign after an AC joint sprain cut his rookie season short. Richardson was also benched for two games last year in favor of veteran Joe Flacco midseason before winning the starting job back.

The Colts announced their 53-man roster on Tuesday, which included three quarterbacks: Jones, Richardson and rookie Riley Leonard.

"There's some value in sitting behind a guy that's a professional," Ballard said. "Watching, learning and growing and working on the things you need to work on without the same pressure of being the starter. There's a lot of good to that."

"You have to respect the decision," Richardson told reporters after the announcement. "They feel like he's [Jones] a better fit for the team and the outcome of us winning. You have to respect it and keep working. It doesn't undermine any of the work I've put in. It doesn't say I haven't improved. I'm proud of the improvement I've made."