Colts Have Specific Trade Offer for Josh Downs — Is it From Chiefs?

Indianapolis Colts WR Josh Downs
Getty
Indianapolis Colts WR Josh Downs could soon be traded

The Indianapolis Colts are almost certain to trade Josh Downs.

It turns out they appear to already have at least one offer, too.

There are still questions, of course — will the Colts get more? Who made the offer?

And for a particular fanbase, the question is simpler: Is the offer for Downs from the Kansas City Chiefs?

Here’s the latest that we know via a report from NFL insiders Adam Schefter and Ian Rapoport on Saturday morning.

Josh Downs Trade Update

Colts Josh Downs
GettySEATTLE, WASHINGTON – DECEMBER 14: Josh Downs #2 of the Indianapolis Colts catches a pass for a touchdown against the Seattle Seahawks during the second quarter at Lumen Field on December 14, 2025 in Seattle, Washington. (Photo by Jane Gershovich/Getty Images)

Downs remains with the Colts, but that shouldn’t last through Tuesday’s NFL trade deadline.

The slot receiver is in the final year of his contract, which will make him a free agent at the end of the year, and he has requested a trade, too.

Given that, it’s almost certain the Colts will trade Downs.

This is what Schefter and Rapoport wrote on Saturday morning:

The Colts have told other teams that they already have received an offer of a fourth-round pick for wide receiver Josh Downs, who requested to be traded in the least year of his contract.

The Colts initially were asking for a third-round pick in return for Downs. But if they want, based on what they have told teams, a fourth-rounder is waiting for them.

A third-round pick would certainly be better than a fourth-rounder — but if it’s only a fourth-round pick, that’s still better than nothing for Downs in this specific scenario.

The Chiefs have been linked in previous reports to Downs, and so it’s fair to wonder if they’re the team that has already offered the fourth-rounder. Nothing in Schefter and Rapoport’s latest report indicates a team, though.

Kansas City could certainly use the receiver help, and whether it’s Downs or elsewhere, the Chiefs will likely add someone.

Colts Trade Rumors

Keenan Allen
GettyINDIANAPOLIS, INDIANA – SEPTEMBER 27: Jonathan Taylor #28 and Keenan Allen #10 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)

Schefter and Rapoport also had an update on Keenan Allen and Grover Stewart, writing this:

“Downs isn’t the only Colts wide receiver to draw interest; veteran Keenan Allen also has been the subject of some inquiries and is another name to watch as the deadline approaches. On the defensive side, defensive tackle Grover Stewart has continued to receive trade interest, though Indianapolis is aiming high with teams feeling like the price is more than they would give right now.”

Given that Allen and Stewart are both on expiring contracts, too, it’s safe to figure they’ll be moved by Tuesday at 4 p.m. ET (3 p.m. Central), too.

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Colts Have Specific Trade Offer for Josh Downs — Is it From Chiefs?

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