Josh Downs is suddenly one of the more interesting names floating around the NFL trade market, and the Colts have already put a number on what it would take to pry him away.
According to ESPN’s Adam Schefter, Indianapolis is asking for a third-round pick for the wide receiver, though that price could soften as the Nov. 10 trade deadline gets closer. Schefter laid it out Monday on “The Pat McAfee Show.”
“I know teams have been calling for Josh Downs, and the Colts are looking for a third-round pick,” Schefter revealed on “The Pat McAfee Show.” “Maybe it’s a fourth-round pick for Josh Downs in the next eight days.”
Downs has been productive even while operating in a rough offensive environment during his three-plus NFL seasons. He has topped 500 receiving yards three times, including two seasons above 700 yards. In 2026, he has 30 catches for 330 yards and one touchdown and is on pace to finish with 700 yards.
The bigger question is whether Indianapolis can actually land the kind of return it wants. A third-round pick feels ambitious for a player like Downs, even one with a strong production track record.
Recent trades for George Pickens and Davante Adams brought back third-round value, though the Pickens deal also included a Day 3 pick swap. Downs is not viewed on that same talent tier, which makes a fourth-round pick look like the more realistic outcome.
That kind of market should still create plenty of interest. The Kansas City Chiefs stand out immediately because of their need at receiver during a disappointing season for that room.
The New England Patriots are another team to watch, especially with A.J. Brown unable to stay healthy this season and Romeo Doubs on injured reserve.
The Las Vegas Raiders also make sense after failing to make a major move at receiver in the offseason despite a clear need. In the NFC, the New York Giants and San Francisco 49ers are both thin at the position and could get involved.
Whatever the final price ends up being, Downs looks like a player who will be on the move before the deadline passes.
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