Richardson played predominantly as an onballer for Collingwood. He won Collingwood's best and fairest, the Copeland Trophy, in 1971 and 1974. And also captained the club from 1971 to 1975.
In 1996, Richardson was named on the interchange in Collingwood's Team of the Century.
Wayne's brother Max Richardson played 211 games for Collingwood from 1969–1978, and another 30 for Fitzroy Football Club in 1979–1980. His son Mark Richardson played 141 games for Collingwood from 1992–2002.