KEY FACTS:
- The deal: The Kansas City Chiefs get wide receiver Josh Downs and a 2027 seventh-round pick. The Indianapolis Colts get 2027 fourth- and fifth-round picks.
- When: The teams agreed the trade minutes before the 4 p.m. ET deadline on Tuesday, November 10, 2026.
- Why it happened: Downs asked for a trade ahead of Week 8 as the Colts tore down their roster.
- The numbers: Downs has 33 catches for 354 yards and one touchdown in nine games this season.
- What is next: Downs could debut on Sunday, November 15, when the 6-2 Chiefs visit the Atlanta Falcons.
The Josh Downs trade is done, and it went right down to the wire. The Kansas City Chiefs landed the Indianapolis Colts wide receiver minutes before the NFL trade deadline on Tuesday, November 10, 2026. The move gives Patrick Mahomes a fresh target for the stretch run. In return, the Colts picked up two more draft picks as their stunning roster teardown rolled on.
NFL Network’s Tom Pelissero first reported the deal, and ESPN’s Adam Schefter and Ian Rapoport soon confirmed it. Kansas City sends 2027 fourth- and fifth-round picks to Indianapolis, while the Colts send back a 2027 seventh-round pick along with Downs. It is a modest price for a 25-year-old with a proven record, and it says plenty about how little leverage the Colts had left.
What Did the Chiefs Give Up in the Josh Downs Trade?
On paper, the Chiefs got the better end of the swap. They gave up two mid-round picks for a starting-calibre slot receiver and got a late pick back. However, the context explains the price. Downs is in the final year of his rookie contract, and he had already asked to leave. As a result, Indianapolis was selling from a weak hand.
| Team | Receives |
|---|---|
| Kansas City Chiefs | WR Josh Downs, 2027 seventh-round pick |
| Indianapolis Colts | 2027 fourth-round pick, 2027 fifth-round pick |
Downs carries a $4.2 million cap hit this season, and he becomes a free agent when the campaign ends. So Kansas City is, for now, renting him for the final stretch. If he clicks with Mahomes, though, the Chiefs will have the first chance to keep him.
Why Did Josh Downs Want Out of Indianapolis?
Downs asked for a trade ahead of Week 8, according to ESPN’s Jeremy Fowler. The request came just a day after the Colts shipped guard Quenton Nelson to Seattle and defensive tackle DeForest Buckner to San Francisco. The message was clear: Indianapolis was rebuilding, and Downs did not want to wait around for it.
At the time, the Colts sat at 2-5, and they had fired longtime general manager Chris Ballard a week earlier. Downs spoke to reporters about his future on October 28, and he kept his options open without confirming the request outright. Two weeks later, he got his wish. “I am beyond grateful and blessed for my time in Indy,” he wrote on X after the deal broke.
The Colts’ Deadline Fire Sale: Who Is Gone?
The Josh Downs trade was not a one-off. It was the final act of one of the most aggressive deadline teardowns in recent memory. Indianapolis moved four established players in the space of two weeks, and the roster now looks nothing like the one that opened the season.
| Player | Position | Destination | When |
|---|---|---|---|
| Quenton Nelson | Guard | Seattle Seahawks | Late October |
| DeForest Buckner | Defensive tackle | San Francisco 49ers | Late October |
| Keenan Allen | Wide receiver | San Francisco 49ers | Deadline day |
| Josh Downs | Wide receiver | Kansas City Chiefs | Deadline day |
Keenan Allen went to the 49ers earlier on deadline day, so the Colts traded away two starting receivers within hours. Meanwhile, the draft picks keep piling up. However, the Colts’ own first-round pick in 2027 belongs to the Jets, so their earliest selection currently projects at No. 39 overall.
Josh Downs’ Career Numbers Tell the Story
Downs arrived in Indianapolis as a third-round pick, 79th overall, in the 2023 NFL Draft out of North Carolina. He made an instant impact as a rookie. Then he posted his best season in 2024, with 72 catches for 803 yards and five touchdowns in just 14 games.
| Season | Games | Catches | Yards | Touchdowns |
|---|---|---|---|---|
| 2023 | 17 | 68 | 771 | 2 |
| 2024 | 14 | 72 | 803 | 5 |
| 2025 | 16 | 58 | 566 | 4 |
| 2026 | 9 | 33 | 354 | 1 |
| Career | 56 | 231 | 2,494 | 12 |
His numbers dipped this season, and his 57.9 percent catch rate is a career low. But context matters. He played in a struggling offence. He still served as the Colts’ slot receiver while Alec Pierce missed most of the season with a heel injury. In college, he starred at North Carolina, with 202 catches for 2,483 yards and 22 touchdowns in three seasons.
What Does Josh Downs Give Patrick Mahomes?
First of all, the Chiefs needed a receiver. They lost Rashee Rice and Tyquan Thornton to injuries early in the season, and the offence has leaned heavily on the run game. Downs fills a clear gap. He is a quick, reliable slot option who can work the middle of the field and move the chains on third down.
He also joins a receiver room led by Travis Kelce, Rashee Rice, and Xavier Worthy, so he will not have to carry the load alone. Instead, he gives Mahomes another trusted target underneath, which should open up space for bigger plays downfield. The fit makes sense on the field, and the price makes sense on the balance sheet.
Interestingly, the Pittsburgh Steelers were heavily linked to Downs and were seen as the favourites for much of the day. In the end, Kansas City beat them to it. Pittsburgh did not hold a 2027 fourth-round pick, which made matching the price harder, and the Chiefs moved first.
What Is Next for Josh Downs and the Chiefs?
Downs should be available for Sunday’s trip to Atlanta, where the 6-2 Chiefs face the 3-6 Falcons on November 15. Kansas City opened as a 3.5-point road favourite, and a debut in a winnable game would be the ideal way to ease him in.
For Downs, the next nine weeks are an audition. A strong finish with Mahomes could turn a deadline rental into a long-term home and a new contract worth far more than his rookie deal. For the Colts, the rebuild is now in full swing. Either way, this was the smart kind of deadline move: low cost, clear need, and real upside.
Sources
- Bleacher Report — Josh Downs Traded to Chiefs, New NFL Rumors Reveal Colts’ Draft Pick Return Ahead of Deadline
- Pro Football Reference — Josh Downs career statistics
- Steelers Depot — Chiefs Beat Steelers to Top Trade Target, Acquire WR Josh Downs
Related on CelebWatch: our coverage of the Colts’ other deadline-day move, the Keenan Allen trade to the 49ers, and the Kirk Cousins trade back to the Vikings. See also the Jordan Davis blockbuster trade to the Jaguars.
