Colts' Keenan Allen Trade Only Happened Because of Josh Downs

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NASHVILLE, TENNESSEE - NOVEMBER 02: Keenan Allen #13 of the Los Angeles Chargers looks on during warm ups prior to the game against the Tennessee Titans in the game at Nissan Stadium on November 02, 2025 in Nashville, Tennessee. (Photo by Johnnie Izquierdo/Getty Images)

The Indianapolis Colts traded Keenan Allen before they traded Josh Downs on Tuesday.

Allen went to the San Francisco 49ers. Downs went to the Kansas City Chiefs.

Both moves made sense in the context of the Colts’ season. The wide receivers are in the last years of their respective contracts. Both will be free agents at the end of the season. The Colts decided not to lose them for nothing at the end of the year.

It turns out that the trades were actually connected, too.

The 49ers may not have traded for Allen if not for Downs.

How Josh Downs Aided Keenan Allen Trade

Houston Texans v Indianapolis Colts — GettyINDIANAPOLIS, INDIANA – SEPTEMBER 27: Keenan Allen #10, Tyler Warren #84 and Laquon Treadwell #13 of the Indianapolis Colts celebrate after a touchdown during the first half of the game against the Houston Texans at Lucas Oil Stadium on September 27, 2026 in Indianapolis, Indiana. (Photo by Johnnie Izquierdo/Getty Images)

The 49ers didn’t think about Allen at first, it turns out.

GM John Lynch revealed in a local radio appearance that the 49ers were looking at film on Downs when head coach Kyle Shanahan noticed Allen.

“We kind of focused on Josh Downs as an option that we’d have some interest,” Lynch said on KNBR. “And Kyle and I are kind of watching Josh, and in the process, Kyle’s like, ‘Man, what about Keenan?’ And I was like, ‘You know, we hadn’t given much thought to that, but let me ask about that.’ And so, there started a conversation about two and a half weeks ago, really, when the DeForest talks [happened]. ‘Would he?’ And it’s always fluid, and at a certain time, they didn’t want to give up Keenan. It kind of wasn’t going to be on the table, but we kept communicating, and ultimately we got him.”

That likely worked out for both sides. The Colts wanted to move Allen — and had already sent DeForest Buckner to the 49ers — and the ‘Niners got a cheaper price on Allen than Downs.

Comparing Costs

Pittsburgh Steelers — GettyJACKSONVILLE, FLORIDA – NOVEMBER 1: Wide receiver Keenan Allen #10 of the Indianapolis Colts stretches during warm-up prior to their game against the Jacksonville Jaguars at EverBank Stadium on November 1, 2026 in Jacksonville, Florida. (Photo by Parker S. Freedman/Getty Images)

The 49ers sent the Colts a sixth-round pick for Allen.

The Downs trade involved the Colts sending Downs and a seventh-round pick to the Chiefs for a fourth-round pick and a fifth-round pick.

While Downs is younger and conceptually more talented at the present moment, Allen actually was leading the Colts in catches this season and clearly can still get the job done.

The 49ers likely feel good about the business they did, and they might not have even thought of Allen if not for Downs.