Colts Have Fourth-Round Offer For Josh Downs; Keenan Allen Drawing Interest

Still, the Colts are not planning to move him just to satisfy a request, but at least one offer has come in. More may be likely, especially considering the impediments some AFC wide receiver-needy teams have with the Jaguars’ Brian Thomas Jr. Thus far, the Colts have at least a fourth-round pick on the table.

An offer including a fourth has come in, per ESPN’s Adam Schefter and NFL.com’s Ian Rapoport, and The Ringer’s Tom Pelissero indicates the Colts have received a proposal including a fourth and an additional draft asset. If the package includes a fourth and another pick, it would remind of the 2025 deals involving Rashid Shaheed (fourth-, fifth-rounders) and Jakobi Meyers (fourth, sixth).

Considering the Jaguars will probably avoid trading Thomas to an AFC threat, the Chiefs and Steelers come up as obvious candidates to have made an offer for Downs. Though, the Commanders and 49ers are looking for WR help too. The Rams, sitting at 4-4 and without Davante Adams for at least a few more weeks, figure to be at least looking around on this market as well.

The Chiefs came up as a Downs suitor this week, and The Athletic’s Jonathan Jones adds the former third-round pick’s name is coming up most often regarding Kansas City’s latest wideout search. We heard earlier this week the Colts had been hoping for a third, and they will assuredly wait until the deadline nears to see if the market heats up to the point such an offer emerges. But having a Shaheed-like package would probably be a win for the Colts, considering Downs’ inconsistency and status as primarily a slot player.

Kansas City already has underneath targets in Travis Kelce and Rashee Rice. They have not seen Xavier Worthy, his 4.21-second Combine 40 time notwithstanding, become a viable deep threat. Downs would be an upgrade still for a Kansas City team that has been unable to find receiver consistency since trading Tyreek Hill (Chiefs-Hill reunion connections have slowed since the embattled free agent was found liable for civil battery in a suit brought upon by his ex-wife).

Downs is not the long-range threat Shaheed is, nor is his resume on Meyers’ level. But Downs posted 771 rookie-year yards with Gardner Minshew primarily targeting him and 806 in Year 2, being a key target for the historically inaccurate Anthony Richardson. The Colts’ QB issues could work in their favor at the deadline, as Downs (25) could be marketed as a player with untapped potential. That will certainly be his representation’s pitch in 2027. And a move to a team with a better quarterback situation will clearly be desired by Downs’ camp ahead of that point.

As should be expected, Downs is not the only wide receiver the Colts are willing to move. Keenan Allen has come up as a player to watch regarding a trade, according to Schefter and Rapoport.

The 14th-year wideout is in an age-34 season and tied to a vet-minimum base salary. Allen would check in as a post-deadline buyout type in the NBA, and the Colts doing right by the former Shane Steichen Chargers pupil and cutting him after the deadline could be in play if no offer comes in. But Allen would be subject to waivers if he is cut after the deadline. It makes sense for the Colts to collect a late-round pick if they can by Tuesday.

Allen sought a return to Los Angeles in 2025, with the Rams being in play at the time. He ended up reuniting with the Chargers. The 49ers already have a host of 30-something playmakers, making Allen a bit redundant (though, San Francisco certainly needs healthy options at the position presently). A team that strikes out on Downs and Thomas could pivot to Allen or the Titans’ Calvin Ridley, who came up as a backup plan this week. With Thomas not certain to move and the Jets planning to retain Garrett Wilson, Downs may be the top deadline target at the WR spot.