INDIANAPOLIS -- Colts quarterback Anthony Richardson is "probably" going to miss the rest of the regular season and could undergo shoulder surgery in the next week or so, team owner Jim Irsay told ESPN on Monday.

Richardson, this year's fourth overall pick in the draft, sustained an AC joint sprain in his right (throwing) shoulder during the second quarter of Indianapolis' Week 5 win over the Tennessee Titans.

The Colts have spent the week-plus since the injury obtaining numerous medical opinions on how to proceed. Irsay said evaluations are pointing in one particular direction.

"The most likelihood is he's probably going to be gone for the year," Irsay said. "I mean, it's not definite but [he] probably misses this year and we're going to have to contend with that factor."

Among the associated decisions is whether Richardson's injury needs to be surgically repaired or whether continued rehab would be sufficient to fix the problem. Irsay said surgery seems likelier.

"There's debate going, but it's probably going to lead toward surgery in the next week or so," Irsay said. "We're just trying to figure out exactly how and when and what we want to do and what Anthony wants to do."

That last part -- what Richardson prefers -- is a key element, Irsay said. The final decision will be up to Richardson and those advising him, though most players tend to follow the medical advice. The organization is taking a very cautious approach to addressing Richardson's injury given the importance of his health to the franchise's long-term future.

The Colts on Sunday lost their first game since Richardson was placed on injured reserve last week when they fell 37-20 to the Jacksonville Jaguars behind backup Gardner Minshew. They are now 3-3 and host the Cleveland Browns in Week 7.

Multiple team sources said doctors are still in active consultation about next steps and no final decisions have been made. Richardson's injury has been evaluated by several of the top specialists in the country.

"We think we have an outstanding football team still," Irsay said. "We'll take them one at a time."