Colts Set Fourth-Round Pick Asking Price for Josh Downs Trade

The Indianapolis Colts are signaling to the rest of the league that the asking price for wide receiver Josh Downs starts at a fourth-round draft pick.

According to a report from NBC Sports, the team has informed interested clubs that they have already received an offer of that magnitude, setting a clear benchmark for any potential deal.

This development arrives as the Colts face a difficult 2026 campaign. Downs, a 2023 third-round draft pick who currently leads the team with 330 receiving yards, has formally requested a trade. Given the team’s current trajectory and their aggressive roster turnover, a deal appears increasingly likely.

The Colts have already parted ways with key veteran leaders, including Quenton Nelson and DeForest Buckner. These moves, coupled with active trade inquiries regarding other players on the roster, show a front-office strategy clearly focused on building for 2027 and beyond rather than salvaging the remainder of this season.

The team’s wide receiver room remains a focal point of these discussions.

Beyond Downs, the organization is also gauging the market for veteran Keenan Allen, who currently sits second on the team with 325 receiving yards.

For the Colts, the decision to move on from established talent reflects the harsh economic and competitive realities of a team falling out of contention. By offloading players in the final year of their contracts or those deemed surplus to long-term plans, the franchise is prioritizing future draft capital.

For potential trade partners, the acquisition of a player like Downs represents a calculated gamble on a young, productive receiver who is already acclimated to the professional level.

The coming days will reveal whether another team is willing to exceed that fourth-round floor or if the Colts will hold firm until the trade deadline passes. The stakes remain high for both the front office, which needs to restock its draft coffers, and the players looking to find a fresh start elsewhere.