The Kansas City Chiefs got their wide receiver at the buzzer. Kansas City is acquiring Josh Downs and a 2027 seventh-round pick from the Indianapolis Colts for 2027 fourth- and fifth-round picks, The Ringer’s Tom Pelissero reported just before Tuesday’s 4 p.m. ET trade deadline. ESPN’s Adam Schefter and NFL Network’s Ian Rapoport also reported the deal.
Downs asked out of Indianapolis two weeks ago. Now he’s catching passes from Patrick Mahomes.
Trade details
Chiefs get: WR Josh Downs, a 2027 seventh-round pick
Colts get: a 2027 fourth-round pick, a 2027 fifth-round pick
The price landed close to where insiders expected. The Colts first wanted a third-round pick, and Schefter said Indianapolis had an offer of at least a fourth on the table heading into deadline day. Kansas City added a fifth to close it, with a seventh coming back.
Why the Chiefs needed Josh Downs
Receiver has been Kansas City’s biggest problem all season. The Chiefs were in the market for a wideout for Mahomes, especially after Xavier Worthy suffered a hamstring injury in Week 9, according to Yahoo Sports.
The Chiefs had also been linked to Jacksonville’s Brian Thomas Jr., but the Jaguars were less willing to deal him, per SI’s Albert Breer. Downs became the target, and Kansas City was called the “leader” for him as of Monday, according to Charles Robinson.
Downs joins a group that includes Rashee Rice, Worthy and tight end Travis Kelce, with Kenneth Walker III in the backfield, per The Sporting News.
Josh Downs stats and contract
Downs is 25 and in his fourth season after the Colts took him in the third round of the 2023 draft out of North Carolina.
This season, he has 33 catches for 354 yards and a touchdown in nine games, according to KCTV. That led the Colts in receiving yards, and he played about 80% of the offensive snaps, per Arrowhead Pride. KCTV noted those numbers would tie or lead every Chiefs receiver this season.
For his career, Downs has 231 catches for 2,494 yards and 12 touchdowns.
He’s a rental. Downs is in the final year of his rookie deal with a $4.2 million cap hit, Bleacher Report noted, and he’s set to be an unrestricted free agent after the season, just like Rice.
A rough end in Indianapolis
Things went sideways for Downs this fall. ESPN’s Jeremy Fowler reported his trade request on Oct. 28, right after the Colts traded guard Quenton Nelson and defensive tackle DeForest Buckner.
He played through it, but it wasn’t pretty. Downs caught 3 of 6 targets for 24 yards in Sunday’s loss to the Dallas Cowboys, per NBC Sports, and Athlon noted he dropped two passes in that game. Afterward, he said he was “open to whatever” on his future.
Some of that is on the situation. Alec Pierce has missed most of the season with a heel injury, Bleacher Report noted, leaving Downs to face extra attention as the main target.
What the Colts get
Indianapolis keeps stacking picks. Downs is the fourth veteran starter the Colts have moved in recent weeks, following Buckner, Nelson and Keenan Allen, who went to the 49ers earlier Tuesday.
The one big name who stayed is running back Jonathan Taylor. The Colts turned down second-round offers and more for him, Pelissero reported, because they wanted a blockbuster.
Steelers miss out
Pittsburgh was heavily linked to Downs too. Steelers Depot pointed out that the Steelers didn’t own a 2027 fourth-round pick, which made matching Kansas City’s offer harder.
When Downs could debut for the Chiefs
The Chiefs visit the Atlanta Falcons on Sunday at 1 p.m. ET, according to ClutchPoints. That’s a quick turnaround for Downs to learn the playbook, but he’s a slot receiver who wins with quick separation, which should make the jump easier.
Atlanta will have a new kicker for that game after the Falcons released Nick Folk and signed Jake Moody on Tuesday.
Fantasy football take
Downs’ value goes up in Kansas City. He moves from a struggling Colts passing game to a Mahomes offense that badly needs a reliable short-area target, especially with Worthy banged up. Treat him as a WR3 with upside in PPR leagues once he’s up to speed. For more pickups this week, see our Week 10 waiver wire guide.
Every completed deal is listed in our NFL trade deadline 2026 guide.
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