Exeter City have confirmed the departure of teenage star Jake Richards after the midfielder turned down a professional contract with the League One club.
The 17-year-old, who was named League One Apprentice of the Year in April, leaves after making 32 senior appearances across all competitions.
Exeter Lose Out as Richards Turns Down Record Offer
Jake Richards’ exit marks a significant blow for Exeter City, who had offered the biggest deal in their academy’s history to retain the highly regarded youngster. Manager Gary Caldwell revealed the club did everything they could to keep the midfielder, stating the offer surpassed any made to a 17-year-old at St James Park.
Despite weeks of talks, Richards opted against signing, meaning he will now leave the club, although any new employer will be required to pay a compensation fee due to his academy status and age.
Richards made his senior debut on his 16th birthday in August 2023 and has been a regular feature since, drawing praise for his maturity and composure. In addition to his League One minutes, he also featured in cup competitions, showcasing the kind of development Exeter’s academy has become known for.
Speaking to the club’s official site, Caldwell said:
“Jake is a tremendous young talent with a bright future ahead of him. He has shown incredible maturity, skill, and determination throughout his time with us. While we would be sad to see him go, we’re incredibly proud of the player and person he has become.”
The news comes just days after goalkeeper Harry Lee also departed the club. The 20-year-old had long been viewed as a future number one at Exeter but made only five senior appearances before deciding to seek opportunities elsewhere.
Writer’s View
This is a tough one for Exeter to take. While they have every right to be proud of Jake Richards’ development, losing him without a professional contract undermines the financial structure that sustains their academy-first model. The Grecians are often praised for their approach to youth—one that prioritises long-term nurturing over short-term fixes—but this scenario shows the risks involved.
Compensation may soften the blow, but it’s unlikely to match what Exeter might have earned down the line. With Harry Lee also departing, it’s been a bruising summer so far at St James Park, and the pressure is on for the club to retain the next generation of talent before others come calling.
