NFL insiders have weighed this week whether it will take a third or fourth-round pick to acquire wide receiver Josh Downs from the Indianapolis Colts. Connecting the dots from the latest update on a potential Downs trade, it will likely take a third for the Pittsburgh Steelers.
Insiders Ian Rapoport and Adam Schefter reported Saturday morning the Colts have an offer on the table for the wideout. Other teams have a few days to beat it.
“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,” wrote Rapoport and Schefter.
“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.”
The Steelers don’t have a fourth-round pick in the 2027 NFL Draft. While Rapoport and Schefter didn’t specifically state the offer was a 2027 fourth-rounder, it’s a fair assumption that that’s the case.
In conclusion, the Steelers aren’t not likely to be the team who have an offer waiting on the table for Downs. Instead, they are a team that will have to beat that fourth-round offer — potentially with a 2027 third-round choice — if they intend to land Downs.
The Steelers have two third-rounders next spring but not fourth-round pick. Pittsburgh has the Dallas Cowboys third-round selection in the 2027 draft because of the Broderick Jones trade. In the same deal, the Steelers sent Dallas their fourth-rounder.
Will Steelers Beat Current Offer for WR Josh Downs?
Some pundits, most notably Mark Kaboly, aren’t in favor of the Steelers trading a fourth-rounder for Downs. Most analysts and fans, though, would probably sign up for the idea the Steelers could add a starter worthy receiver for nothing more than Day 3 compensation.
Pittsburgh not having a fourth-round pick next year, though, makes a potential Downs trade difficult for the Steelers. The most logical way for general manager Omar Khan to beat the current offer the Colts reportedly have for Downs is to offer the team’s 2027 third-rounder.
If the Steelers plan to sign Downs to an extension, that’s one thing. But his contract expires after the season. Should Pittsburgh not plan to ink another receiver to a big deal, then Downs is a rental player for Pittsburgh.
In that situation, a third-rounder is an expensive price to pay to the Colts wideout.
Steelers Reportedly in Wide Receiver Market
Rapoport and Schefter made no mention of the team that submitted the fourth-round offer for Downs or any other potential suitors for the Colts wideout.
As far as the Steelers go, the two insiders had just a simple update — the Steelers are one of three teams making inquiries on the receiver market.
“At least three teams appear to be in the wide receiver market, and quite possibly more: Kansas City, Pittsburgh and San Francisco, according to sources,” wrote Rapoport and Schefter. “Each organization has been making calls to see if there is a player it can add by the deadline.”
They didn’t get any more specific about which wide receivers the Steelers might be pursuing.
In addition to Downs, Rapoport and Schefter discussed Brian Thomas Jr., Keenan Allen and Calvin Ridley as trade targets. Of the receivers the two insiders named Saturday morning, those are the most logical options for the Steelers ahead of Tuesday’s deadline.
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