The Indianapolis Colts continued to dismantle their roster until the final hour of Tuesday’s NFL trade deadline, sending slot receiver Josh Downs, along with a seventh-round pick to the Kansas City Chiefs in exchange for a fourth and fifth-round pick in the 2027 NFL Draft. The aggressive fire sale marks the fourth trade the Colts have made to begin the rebuild during this disastrous campaign.
Indianapolis granted Downs’ request, trading away a second starting receiver ahead of the deadline to stack
as much draft capital as possible. The 25-year-old receiver made his intentions known in October that he was ready to leave. The Colts have done all four former players a solid by sending them to active contenders and it’s fair compensation rather than losing Downs for nothing in free agency.
Downs’ trade request came after weeks of frustration as Indianapolis continued to sell off pieces of its roster. In fact, each of the last four losses have prompted an organization move. From the firing of GM Chris Ballard, to the trades of the cornerstone captains up front, to the trades of the starting receivers on Tuesday.
In Sunday’s loss to the Dallas Cowboys, Downs looked disengaged on the field and had two noticeable drops. It was a tough performance for a receiver on a contract year, knowing it could be his final curtain call with the Colts. Downs has just 33 catches for 354 receiving yards and one touchdown this season.
Downs was a third-round pick (79th overall) in the 2023 NFL Draft. The UNC product instantly established himself as one of Indianapolis’ most dependable targets, catching 68 receptions for 771 yards and two touchdowns as a rookie. He made clear improvements in his second season and noteable had the best footwork among the receiver corps throughout training camp. Downs improved and finished with 72 catches for 803 yards and five touchdowns in his sophomore campaign.
However, his production has steadily declined since Daniel Jones became the Colts starting quarterback. Downs endured a slight drop during the 2025 season and recorded 58 receptions for 566 yards and four touchdowns. It looked bright out the gate as Downs started off the opening drive of the 2026 season with nearly 40 receiving yards, but has been held in check in essentially every game since the season opener.
Kansas City adds another weapon for franchise quarterback Patrick Mahomes. The Chiefs were desperate to acquire a young, talented receiver with a proven ability to operate out of the slot and create separation.
The Colts previously traded guard Quenton Nelson to Seattle, then sent defensive tackle DeForest Buckner and veteran receiver Keenan Allen to San Francisco in separate non-package deals for one pick each. Downs becomes the fourth player shipped out this season as Indianapolis continues stock draft capital ahead of 2027.
Four trades becomes another reminder that the Colts are no longer operating for this season, because the focus has entirely shifted toward the future. Downs wanted no part of what that future looked like in Indianapolis, so it was best to find a willing trade partner in the Chiefs.
