Just hours after the Indianapolis Colts shipped off All-Pro guard Quenton Nelson to the Seattle Seahawks and defensive anchor DeForest Buckner to the San Francisco. Amid this fire sale, third-year wide receiver Josh Downs decided he wanted to be no part of this teardown, formally requesting a trade. Now, that trade request has triggered a conference bidding war between two of the SFC’s most opportunistic heavyweights: the Kansas City Chiefs and the Pittsburgh Steelers.
Both coaching staffs and front offices have recognized the opening to acquire a productive, cost-controlled pass catcher before the November 10th trade deadline. With Indianapolis lowering its initial demands from a third-round pick to a Day 3 draft compensation, the market for the 25-year-old slot specialist has accelerated over the weekend.
“The Chiefs and Steelers have both offered Day 3 draft compensation to the Colts for Josh Downs,” NFL reporter Evan Sidery wrote on X. “After requesting a trade this week, a Downs deal is expected to go down after this weekend. Indianapolis will likely fetch a 4th or 5th-round pick for Downs after originally seeking a 3rd.”
Now, Downs has been a vital security blanket in Indianapolis since arriving as a third-round pick out of North Carolina in the 2023 NFL Draft. Despite the Colts stumbling to a 2-5 start, Downs leads the team with 307 receiving yards on 26 receptions across seven games this season. As much as that talent is hard to pass up, it also makes for a powerful trade chip.
Facing the media ahead of Sunday’s matchup against the Jacksonville Jaguars, Colts head coach Shane Steichen officially confirmed the trade request. While addressing how the organization intends to handle the pending departure, Steichen simply banked on professionalism.
“You’re a professional. Obviously you requested a trade, but you’re on this football team. You’ve got to show up, and we gotta go play a game on Sunday,” Steichen said, per Colts radio announcer Matt Taylor.
Downs himself has refused to hide from the swirling trade speculation. If you ask him, he’s got a very pragmatic assessment of his future.
“I’m open to whatever. Whatever comes my way, comes my way and we go from there,” Downs said in a media interaction, per ESPN’s Stephen Holder.
But where does he fit best?
This calm availability has caught the attention of two very different offensive environments. In Pittsburgh, adding Downs would give Aaron Rodgers a precise, dependable slot target to move the chains as the veteran quarterback chases one final playoff run. While DK Metcalf anchors the outside and rookie Germie Bernard has flashed moments of promise, the Steelers’ receiver room has lacked steady separation, especially with Michael Pittman Jr. managing injuries on the IR.
In Kansas City, however, pursuing Downs looks less like a luxury acquisition and more like an urgent triage. The Chiefs’ pass-catching group has absorbed heavy blows through the first two months of the season: Rashee Rice has missed time with a lingering hamstring issue, Tyquan Thornton is likely sidelined for the remainder of the year, and Xavier Worthy has been forced to shoulder a heavy workload out of necessity.
As for Josh Downs, the underlying pressure driving him out of town traces back to the executive suite in Indianapolis. Following the dismissal of general manager Chris Ballard after their Week 6 defeat against the Tennessee Titans, owner Carlie Irsay-Gordon shed light on the team’s abrupt leadership shuffle.
“Making this change during the season was a deliberate decision. Waiting would only delay the important work that needs to begin now,” Irsay-Gordon said in a statement. “We will conduct a thorough search for our next general manager and take the time necessary to identify the right leader for the future of this organization.
“I also want to be clear: This decision does not change our goals for the season. We have a lot of football in front of us, and I expect us to compete, improve, and win football games.”
Under interim general manager Ed Dodds, the Colts have made it clear that no young asset is going to be safe if the draft capital aligns with their multi-year timeline. With Josh Downs playing out the final year of his rookie deal, the clock’s ticking for Pittsburgh, Kansas City, or an unexpected dark horse to finalize a deal before the November 10 deadline.