Colts Have Only One Path With Josh Downs

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JACKSONVILLE, FL - NOVEMBER 01: Wide Receiver Josh Downs #2 of the Indianapolis Colts makes a catch in the back of the endzone during the second half of the game against the Jacksonville Jaguars at EverBank Stadium on November 1, 2026 in Jacksonville, Florida. (Photo by Don Juan Moore/Getty Images)

The discourse around the Indianapolis Colts is starting to get just a little bit weird.

There’s been the suggestion in recent days that the Colts could consider keeping players like Josh Downs and Grover Stewart past the 2026 NFL trade deadline, which reaches the buzzer at 4 p.m. ET (3 p.m. Central) on Tuesday, Nov. 10.

And, frankly, that would make no sense.

Jonathan Taylor is a different story altogether, but Downs and Stewart only make sense if they end Tuesday on different teams.

Let us explain.

Josh Downs Trade Path

Tennessee Titans v Indianapolis Colts — GettyINDIANAPOLIS, INDIANA – OCTOBER 18: Josh Downs #2 of the Indianapolis Colts catches a pass against Anthony Hill Jr. #53 of the Tennessee Titans during the fourth quarter of the game at Lucas Oil Stadium on October 18, 2026 in Indianapolis, Indiana. (Photo by Andy Lyons/Getty Images)

Josh Downs and Grover Stewart are in the last years of their respective contracts.

If they get to the end of those deals with the Colts, they can leave in free agency. And while the NFL has certain compensatory pick rules in place, in general, guys that hit the end of their deal are leaving for nothing guaranteed.

On the other hand, a trade guarantees an asset in return, and the math should really be that simple.

Unless the Colts intend to extend Downs or Stewart — and if they did, wouldn’t they have done so already? — they’ve got to trade them on Tuesday.

The Colts aren’t making the playoffs. If you had the choice between a mid-round pick to use for the future, or a player who will play out the rest of this non-contending season and then leave in free agency, which would you choose?

Indianapolis has no real excuse to keep any player on an expiring contract that they can get draft capital for.

Maybe another team doesn’t want to trade any draft pick for Keenan Allen, but Downs has been reported to be worth a fourth-round pick. If that gets offered, and that’s the best offer, it’s what the Colts have to do.

Jonathan Taylor is Different

Cincinnati Bengals — GettyINDIANAPOLIS, INDIANA – OCTOBER 18: Jonathan Taylor #28 of the Indianapolis Colts runs with the ball against Cedric Gray #33 of the Tennessee Titans during the second quarter of the game at Lucas Oil Stadium on October 18, 2026 in Indianapolis, Indiana. (Photo by Andy Lyons/Getty Images)

It’s worth quickly noting that superstar running back Jonathan Taylor is different when it comes to this discussion.

Taylor’s contract doesn’t expire until after the 2028 season. He had just signed an extension over the summer.

That sets up the Colts with leverage on any potential Taylor deal. They could just keep him around for the future.

But that’s not the situation with Downs and Stewart, who both are almost certain to go on Tuesday — and if they don’t, there are some legitimate questions to be asked of the fill-in front office.