The versatile defender formed part of a City squad which reclaimed the Premier League title this season, but he did not qualify for a medal.
He found himself restricted to just two top flight outings in 2013/14, with Pablo Zabaleta nailing down the right-back berth.
Richards is aware that he needs to find regular game time if he is to reignite his career, with there still plenty of football ahead of him at the age of 25.
Whether he adds to the 244 he appearances he has made for City remains to be seen, with interest in his services reported to be mounting as he prepares to weigh up his options.
Richards said after Sunday's 2-0 victory over West Ham United which saw City crowned as champions: "I'm proud for the boys. I'm gutted I didn't qualify for a medal, but it's a great day for the club.
"To get the double is excellent and now build on it for next season.
"We'll see what happens now. I'll take the summer to think over things. I've been here 11 years, I've enjoyed every minute.
"I don't know what the future holds - we'll see. I just want to thank everyone here for what they've done for me so far. I'll enjoy this then take it from there.
"I'm sure a lot of people hope I stay - but when your games are limited, sometimes you have to do what's best for your career.
"I need to address that at the end of the season."