Indianapolis Colts wide receiver Josh Downs may be ripe for a contract extension if all goes well in 2026.
The Indianapolis Colts are in a period of transition.
This offseason, they allowed several longtime veterans to walk in free agency while even trading away some others. The turnover may continue over the next 12 months as more players remain on the trade block, and many veterans enter the final year of their contracts.
One of those veterans entering the end of their deals is wide receiver Josh Downs, who has been the most reliable slot receiver the Colts have had in years. However, the Colts would prefer to have him be part of their future if all goes well in 2026.
"I've said this numerous times about Josh Downs; I think Josh Downs is good. I've always thought he was good," Colts general manager Chris Ballard said this offseason. "We'll see how it plays out, but I think getting him and (Alec) Pierce the ball more is going to be a good thing."
Michael Ginnitti of Spotrac.com recently circled 10 wide receivers around the NFL who are among the top contract extension candidates, and he included Downs on the list.
"A big extension for Alec Pierce, and a looming deal for RB Jonathan Taylor seem to have pushed Downs’ expiring contract to the backburner, but the 24-year-old could be in for a much larger role in 2026," Ginnitti wrote. "Will Indy look to get ahead of his potential breakout, or are they resigned to letting this contract play out, and assessing all options next March?
"Prediction: Just too many mouths to feed here this offseason. Downs takes the Pierce path into free agency next March."
With one year and $3.9 million remaining on his rookie contract, Spotrac projects Downs to cash in with his next deal, valuing him at four years and $65 million ($16.25M per year).
The Colts made Downs, 24, their third-round pick in the 2023 NFL Draft out of North Carolina.
In 47 career games (28 starts), Downs has 198 receptions for 2,140 yards (10.8 avg.) and 11 touchdowns. He's also returned 30 punts for an average of 9.7 yards.
With the Colts trading Michael Pittman Jr. this offseason, Downs is one of a few players expected to take on an increased role, both in the slot and outside. In three years, Downs has a total of 1,530 snaps in the slot (77.1%), 438 out wide (22.1%), and 17 in the backfield (0.9%), according to Pro Football Focus.
Head coach Shane Steichen echoed Ballard's sentiment, saying, "I think Downs, his role will step up a little bit more – more targets for him. He's a hell of a player. We've played him in the slot a long time. Get him some reps on the outside as well in the spring and see where that goes. But I'm excited about Josh and his development since he's been here."