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Colts pull the plug on Trent Richardson

Indianapolis Colts v Cleveland Browns

Indianapolis Colts v Cleveland Browns

Diamond Images/Getty Images

The Colts have thrown in the towel on Trent Richardson.

The team announced Thursday that they have waived Richardson less than two years after they sent a first-round pick to Cleveland to acquire the former third overall draft pick. Richardson’s stay with the Colts never threatened to make that look like a good idea and the arrival of Frank Gore may have been exactly what the team needed to finally cut their losses.

Richardson ran 316 times for 977 yards and six touchdowns and caught 55 passes for 494 yards and a touchdown during his 29 games with the Colts. Over that period, the Colts, who also waived running back Michael Hill, looked to several other backs ahead of Richardson and he probably wouldn’t have gotten nearly as many chances had Ahmad Bradshaw and Vick Ballard been healthy during the 2014 season.

Richardson was set to make $3.184 million in guaranteed money in 2014, but the Colts suspended him for two games before the AFC Championship game because Richardson missed a Saturday practice without authorization before they faced the Patriots. That suspension would void the guarantee, but Richardson, who said he was dealing with a medical emergency involving his pregnant girlfriend, would likely fight an attempt to do that.

Whatever happens on that front, Richardson has run out of chances to restore his reputation in Indy. He’s just 24 years old and may get another shot to do it elsewhere, but it will probably come with little guaranteed beyond the opportunity to compete for a roster spot in the offseason.