Indianapolis Colts
Indianapolis Colts
It’s no secret that the Indianapolis Colts are having a fire sale. That mindset has been in the works since they decided to fire long-time general manager Chris Ballard. On track for a losing record at 2-5, and possibly 2-6 if they lose to the Jacksonville Jaguars on Sunday, the Colts don’t even have their first-round pick in the 2027 NFL Draft.
As a result of their downward spiral, the Colts have since responded by trading two First-Team All-Pros in Quenton Nelson and DeForest Buckner, both of whom were in the final year of their contracts. Buckner drew a fourth-round pick in the 2027 NFL Draft. Meanwhile, Nelson, who’s a potential future Hall of Famer, drew a third-round pick in 2027, plus a fifth-round pick in 2028. Now, the Colts have set their asking price for another one of their highly desirable players on an expiring contract.
Indianapolis Colts Asking Third-Round Pick for Josh Downs?
Indianapolis Colts, Josh Downs
Indianapolis Colts wide receiver Josh Downs (2) pulls in a pass and reaches the first-down marker Sunday, Oct. 18, 2026, during the game against the Tennessee Titans at Lucas Oil Stadium in Indianapolis.Credit: USA TODAY Network via Reuters Connect
While Jonathan Taylor trade rumors are still swirling, and the Colts seem open to offers, there’s no urgency to deal the First-Team All-Pro who’s under contract through 2028. Meanwhile, 25-year-old wide receiver Josh Downs is in the final year of his contract, and he’s on track for his third season with 700 or more receiving yards in the past four years. Downs has already requested a trade; he’s attracting trade interest, and the Colts are open to a deal.
However, according to NFL Network’s Ian Rapoport, the Colts are asking for a third-round pick in exchange for trading Downs.
“Josh Downs, the standout receiver for the Colts, he publicly requested a trade. But before that, the Colts were already having trade talks centered around him. I know there are a couple teams interested. We will see if they get the third-round pick they are seeking for Downs.”
From @NFLGameDay Morning: #Ravens great Ray Lewis spoke to the team on Friday; The #Colts have some big decisions ahead, centered around Josh Downs and Jonathan Taylor. https://t.co/avvh3cSGIu
— Ian Rapoport (@RapSheet) November 1, 2026
While that’s a fair price for a player of his caliber who likely hasn’t even reached his prime, what makes them think he’s worth nearly the same amount as they got for an eight-time Pro Bowler like Nelson? Plus, if the Colts let Downs walk in free agency, he’ll likely command a decent price in free agency, which could help them net as much as a third-round pick. Though, waiting for the compensatory pick formula to take effect would only lead to what would top out at a 2028 third-round pick. Whereas trading Downs now could help the Colts net a pick in 2027, when they may feel more urgency to improve.
Still, it’s an interesting approach from the Colts’ front office, which is now led by interim GM Ed Dodds. Of course, it never hurts to set a high asking price and wait to see if anyone meets it. All it takes is one team operating with more desperation than others. Perhaps a team will be willing to meet the Colts’ price for Downs too.