The Pittsburgh Steelers have reportedly shown interest in Indianapolis Colts wide receiver Josh Downs, and a new trade proposal lays out exactly what Pittsburgh could offer to acquire him.
With the Steelers looking for another receiving threat to help Aaron Rodgers, CBS Sports has suggested a deal that would send a third-round draft pick to Indianapolis. However, recent reporting suggests Pittsburgh might be able to land Downs without surrendering that much.
Steelers Get Specific Josh Downs Trade Package From CBS Sports
In his breakdown of four potential Steelers trades, CBS Sports’ Bryan DeArdo proposed Pittsburgh acquiring Downs from the Colts in exchange for a 2027 third-round pick.
“This is a pretty clean trade,” DeArdo wrote.
“The Steelers strengthen their receiving corps by adding Downs, and the Colts get another decently high draft pick for their rebuild. It’s a win-win for both teams.”
The proposal would give Pittsburgh an established slot receiver without requiring general manager Omar Khan to sacrifice another player on the roster.
That separates the Downs proposal from some of DeArdo’s other suggestions, including a potential trade with the Los Angeles Chargers involving Roman Wilson and Ladd McConkey.
DeArdo also floated deals for Jacksonville’s Brian Thomas Jr. and Cleveland’s Jerry Jeudy, but Downs represents a particularly intriguing option because the receiver has already requested a trade.
The 25-year-old has caught 30 passes for 330 yards and one touchdown through eight games this season. He has 228 receptions for 2,470 yards and 12 touchdowns over his four-year career.
Downs would give Rodgers another experienced target alongside DK Metcalf, especially with Pittsburgh continuing to search for consistent production from its receiving corps.
However, DeArdo acknowledged one issue that could complicate negotiations.
The Steelers might face competition from other teams pursuing Downs, potentially driving up his price even if Indianapolis is willing to accept a third-round selection.
DeArdo also questioned whether the Colts should expect anything more than that, particularly with Downs scheduled to become a free agent after the season.
Any team acquiring him would be getting a potential short-term rental unless the sides subsequently reached a contract extension.
Colts’ Josh Downs Asking Price Could Give Steelers Another Option
While DeArdo’s proposal would send a third-round pick to Indianapolis, the Colts might be willing to accept less.
NFL Network’s Ian Rapoport recently suggested the asking price could fall into a lower range.
“They’d like around a three or a four as far as pick compensation,” Rapoport said on Good Morning Football.
That’s a notable development considering Indianapolis had previously been seeking a third-round selection for Downs.
NFL insider Jordan Schultz also suggested that while the Colts wanted a third-round pick, he believed they would ultimately receive a fourth.
For Pittsburgh, the difference matters.
The Steelers are 6-2 and lead the AFC North, but they’re also preparing for Rodgers’ expected retirement after this season. Preserving draft capital could become important if Khan intends to pursue another quarterback in the 2027 NFL Draft.
Surrendering a third-round selection for a receiver who could leave in free agency presents a different risk than acquiring Downs for a fourth-rounder.
The Colts have reportedly received interest from several teams, including Pittsburgh, Kansas City and Washington, meaning Khan wouldn’t necessarily be negotiating without competition.
Schultz has also reported that Indianapolis plans to revisit trade offers after its game against Dallas unless an exceptional proposal arrives beforehand.
That would leave the Steelers a narrow window before Tuesday’s trade deadline to finalize a potential deal.
DeArdo’s suggested package offers Indianapolis the third-round compensation it originally wanted. But if the Colts are willing to consider a fourth-rounder, Pittsburgh could have reason to hold off on committing the more valuable pick.
Steelers Get Clear Trade Package for Colts’ Josh Downs Amid New Asking Price