The Indianapolis Colts have reportedly put a price on Josh Downs, and it is meeting resistance. ESPN senior NFL insider Adam Schefter revealed that the Colts have told teams they want third-round value for the fourth-year receiver.

On Sunday, NFL analyst John Frascella and a handful of fans pushed back on it. Sources told ESPN’s Jeremy Fowler on October 28 that Downs had asked to be traded.

Adam Schefter Measures Josh Downs Against Last Year’s Market

Downs’ request came a day after the 2-5 Colts dealt DeForest Buckner, a defensive tackle, to the San Francisco 49ers and Quenton Nelson, a guard, to the Seattle Seahawks. Downs, 25, is in the last year of his rookie deal, and November 10 is the trade deadline.

Schefter tested the ask against recent history and posed a question of his own: “Josh Downs, the Colts have told teams they’re looking for third-round value. Nobody’s willing to do that right now.

“Is Josh Downs as good as Rashid Shaheed or Jakobi Meyers? So we have to see whether he’s traded, but they want a third-round value for him, and we’ll see if they can get it. It’s questionable, but I still think before the deadline, there’s a reasonable chance that Josh Downs will be traded.”

Downs, who ranks 38th on PFN’s WR Impact Metric, went into Sunday’s game against the Jacksonville Jaguars with 26 catches on 46 targets for 307 yards and no touchdowns this season.

Frascella weighed in Sunday morning, after a post relayed Schefter’s report: “JEEZ… that price is STEEP on Josh Downs… wow…”

Fans Keep Landing on a Fourth-Round Pick

Fans weighing in on the report were no more generous, and three of them put the number at a fourth-round pick. One fan made the most detailed case: “Worth a 4th at best especially because he’s an expiring contract and the colts aren’t winning anything this year. So it’s either trade him or let him walk in FA. I doubt he gets re-signed… Colts have 0 leverage.”

The Colts, who fired general manager Chris Ballard on October 19, entered Sunday with a 3-12 record since Week 10 of last season, and only the Arizona Cardinals had a worse record over that stretch.

Indianapolis has also signaled to teams that it would rather hold on to Downs, Schefter and NFL Network’s Ian Rapoport reported October 31.

Another fan was briefer: “Enjoy the 4th rounder.”

“Yeah you ain’t getting that but lmao. Take this 4th and shut up,” another fan wrote.

The Colts’ two trades so far have produced one of each pick in this debate. The Seahawks sent a 2027 third-round pick and a 2028 fifth-rounder for Nelson, while the 49ers gave up a 2027 fourth-rounder for Buckner.

Two other fans skipped the draft math altogether. “Ain’t no one paying that,” one fan wrote, in step with Schefter’s read of the market.

Another fan needed just one word: “Delusional.”

Fowler’s sources also said several teams have shown interest in Downs, and that the request came because no deal had materialized even as the Colts rebuild.

Downs addressed his status the day the request surfaced: “I’m here right now. I’m where my feet are. We got the Jags this weekend and so I’m in the game plan. So, I’ve got to be ready to go.”

That game got Sunday underway with Downs still on the Colts’ active roster, nine days before the deadline. The Colts have until then to find out whether any of the interested teams will meet their price.