The Los Angeles Rams have been linked to Indianapolis Colts wide receiver Josh Downs as the NFL trade deadline nears, but the situation in Indianapolis may be shifting fast enough to make that pursuit tricky.
The Colts have already started tearing things down after moving franchise cornerstone Quenton Nelson and defensive lineman DeForest Buckner earlier this week, a clear sign the team is in fire-sale mode. Downs was already being discussed in trade calls, and he has now officially requested a trade.
But the bigger wrinkle is Jonathan Taylor. The running back was initially believed to be off limits, yet trade talks around him have started to heat up too.
That matters for the Rams because Downs looks like a realistic target at a price they can manage. If Indianapolis is willing to deal him, Los Angeles has a chance to address a major roster need without paying a massive premium. But if the Colts decide Taylor is the player they want to move, that could change everything.
There’s a limit to how many players a team can unload before the whole operation starts to fall apart. Indianapolis may be open for business, but it still has to put an offense on the field. If the Colts trade one of Taylor or Downs, it becomes hard to imagine them moving both.
Downs is also not being treated like a throwaway piece. ESPN’s Stephen Holder reported that the Colts value him at a third-round pick and would rather keep him.
That makes sense given the state of the receiver room. The Colts signed Alec Pierce to a large contract this offseason, but he’s on injured reserve and has missed most of the year.
If Downs were dealt, Indianapolis would be left with Keenan Allen, Laquon Treadwell, and Ashton Dulin at receiver. If Taylor also goes, the offense would be stripped down to almost nothing outside of Tyler Warren.
For the Rams and general manager Les Snead, that creates a timing problem. Waiting for the deadline to get closer could help the market sort itself out, but it also gives the Colts more time to make another major move. If Taylor is traded first, Downs may effectively come off the board.
Downs is 25, which gives the Colts a reason to see him as part of their next wave when they’re ready to contend again. They could also decide he’s more valuable as a future extension candidate or as a player who could bring back a compensatory pick down the line than as a mid-round draft asset.
The Colts were willing to move Nelson and Buckner, but Taylor and Downs may be a different conversation entirely. The return for Taylor would likely be much larger, and that could make him the more appealing piece to move as Indianapolis tries to stockpile assets for its rebuild. The 49ers gave up second-, third-, fourth- and fifth-round picks to the Panthers for Christian McCaffrey in 2022, a reminder of how much more valuable a back like Taylor can be in the trade market.
So if the Rams want Downs, they may not be able to afford patience. In a normal deadline market, waiting is usually the smart play. This time, it could cost them the chance to land a receiver before the Colts change course.
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