Will Philip Rivers Play for the Colts This Year? Latest Prediction Markets

• The Indianapolis Colts contacted former quarterback Philip Rivers after starter Daniel Jones tore his Achilles in Week 14
• The 44-year-old Rivers spent 2020 with the Colts after 16 years with the Chargers and led Indy to an 11-5 record and a playoff berth
• See the odds on Philip Rivers making a comeback with the Indianapolis Colts this season

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Faced with the prospect of playing rookie Riley Leonard in place of Daniel Jones and with former fourth-overall draft pick Anthony Richardson still on injured reserve after fracturing his orbital when a resistance band hit him in the face, the Indianapolis Colts reached into their past and called 44-year-old Philip Rivers, who retired after the 2020-21 season.

Whether they initially called Andrew Luck or Peyton Manning is not known.

At first glance, this looks insane. But given their situation and the daunting schedule ahead of them, desperate times call for desperate measures. And for Rivers to even think about this means he’s amenable to the idea of dusting off his pads and jumping back into the NFL fray.

Here are the latest odds on Kalshi.com as to whether Rivers might mount a stunning comeback.

Odds Philip Rivers Plays in the NFL This Season

Prices as of 11:01 pm ET at Kalshi.com.

Could Philip Rivers Really Make an NFL Comeback?

On the surface, the prospect of Rivers returning after five years away would have been seen as a joke. Not a particularly imaginative one either.

However, it was quickly proven to be true. Credentialed media members have reported it and, after the eye-rolling and head shaking, it kindasorta makes sense.

The #Colts are planning to bring potential Hall of Fame QB Philip Rivers into their facility Tuesday to work out to see if he may join their practice squad, per me & @MikeGarafolo.

This is real. Daniel Jones’ season is over, Riley Leonard will start, but Rivers may be an option. pic.twitter.com/H3tQW2R3s7

— Ian Rapoport (@RapSheet) December 8, 2025

Since Rivers is reflexively associated with the Chargers, it’s easily forgotten that he ended his career as a Colt, having a solid season at 39 tossing 24 touchdown passes against 11 interceptions and posting a 97.0 passer rating. Although it was a different coaching staff led by Frank Reich, they are still using the West Coast offense. That team went 11-5 and lost in the Wild Card to the Bills.

Philip Rivers is working out for the Colts tomorrow.

His last game action was 1,794 days ago in Orchard Park. He went 27/46 for 309 yards and 2 TDs.
pic.twitter.com/PfrJxaOFiK

— Trainwreck Sports (@TrainwreckSprts) December 9, 2025

At this point in the season, with the Colts sitting at 8-5 and Leonard the last man standing, there were few veteran options available to walk in and take the field without being overwhelmed. At his age and with no reason to do this other than that he loves playing football, Rivers wouldn’t be doing it for a return to glory, cheap attention, or a quick paycheck. On that basis, if he’s in shape and can absorb Shane Steichen and Jim Bob Cooter’s scheme relatively quickly, it’s not crazy to believe he could take the field for Week 16, a Monday night game hosting the 49ers.

The Colts Can Still Make the Playoffs

Despite the three-game losing streak dropping them out of first place in the AFC South, the Colts are 8-5 with their final two games of the season against the Jaguars and Texans. The schedule before that is hellish. They travel to Seattle to play the Seahawks and, as mentioned earlier, host the ‘Niners. Every team will be playing all out.

GM Chris Ballard went for it at the trade deadline dealing a 1st round draft pick to the Jets for star cornerback Sauce Gardner. Gardner has a calf strain. Jones was playing with a fractured tibia. It’s certainly possible that favoring the tibia forced him to alter his movements and led to the Achilles injury. In short, everything has gone wrong for Indy since Week 12.

But they do have perhaps the best running back in the game in Jonathan Taylor. It’s conceivable that Rivers could come in, manage the game, and be accurate enough with his passes to keep opposing defenses from focusing their energies on stopping Taylor as they inevitably will with Leonard under center.

A 2-2 record would likely be good enough to get into the playoffs.

There’s No Downside to Rivers Joining the Colts’ Practice Squad

The workout is not to sign Rivers to the active roster immediately. Even if he kept himself in shape, he’s not going to be in football shape. However, muscle memory and his clear interest in playing should allow him to get into some semblance of condition within weeks.

Rivers has flirted with a stunning comeback before.

In 2022-23, the 49ers were running out of quarterbacks with Trey Lance, Jimmy Garoppolo, Brock Purdy, and Josh Johnson all getting injured. Had they reached Super Bowl LVII, they were ready to sign Rivers. That was three years ago.

Leonard, a 6th round pick out of Notre Dame, completed 18 of 29 passes for 145 yards after taking over for Jones in the loss to the Jaguars. He started 16 games in South Bend as a senior, completing 269 of 403 passes, tossing 21 TDs, and throwing 8 picks.

Now, unless Rivers shows up looking like a 44-year-old who’s spent his entire retirement on the couch — unlikely since he has 10 kids — signing him to the practice squad does no harm and gives them insurance if Leonard isn’t up to the task.

Given the current odds and the pessimism in the betting markets that he’ll take the field, it’s a worthwhile gamble to say he will. The Colts are that desperate, have so many questions surrounding the quarterback position, and have had such misfortune that they might not have any choice but to throw this Hail Mary.