​     Indianapolis Colts wide receiver Josh Downs’ value could increase greatly between now and next offseason. 
Indianapolis Colts WR Josh Downs discussed his brother, Caleb Downs, being drafted by the Dallas Cowboys, as well as what Josh’s role can be after the exit of Michael Pittman Jr. (video via Jake Arthur/ColtsRoundtable)
The 2026 season will present great opportunities for Indianapolis Colts players stepping into new roles.
Some of these players are either new to the team, young and still developing into their potential, or, in the case of receiver Josh Downs, stepping into a bigger platform left by a significant veteran.
The Colts traded former No. 1 receiver Michael Pittman Jr. this offseason, and while they didn’t go out and add a direct replacement, the expectation is that players such as Downs, Alec Pierce, and Tyler Warren will increase their workload to absorb most of what Pittman left behind.
Bleacher Report’s Moe Moton listed eight under-the-radar players across the NFL who are primed to boost their value heading into 2027 free agency. Downs, who is entering the final year of his rookie contract, was one of his selections.
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“This offseason, the Indianapolis Colts traded wide receiver Michael Pittman Jr. to the Pittsburgh Steelers, a move that will open up more opportunities for Alec Pierce and Josh Downs,” Moton wrote.
“In 2025, Pierce registered 47 receptions for 1,003 yards and six touchdowns. Indianapolis rewarded him with a four-year, $114 million extension. Downs could be next if he breaks out this year.
“Despite subpar quarterback play, Downs has shown promise as a reliable slot receiver,” Moton continued. “He’s tied for fourth among 2023 draftees in catches (198) and fifth in receiving yards (2,140). The former third-rounder led the Colts with 72 receptions in 2024. So, they know he can be a primary target in the aerial attack.
Indianapolis Colts wide receiver Josh Downs (2) pulls in a pass Monday, June 1, 2026, during practice at the Indiana Farm Bureau Football Center. Mandatory Credit: Mykal McEldowney/IndyStar
“In 2025, Downs saw a drop-off in production, hauling in 58 of 88 targets for 566 yards and four touchdowns. But as the Colts’ clear-cut No. 2 receiver, he could post career numbers if quarterback Daniel Jones picks up where he left off before tearing his (Achilles).”
As Moton mentioned, Downs is coming off a surprisingly down season in 2025. He produced statistical career lows in every meaningful category except for touchdowns, catching 58-of-88 targets for 566 yards (9.8 avg.) and four touchdowns. However, it was more about the Colts’ offense than about Downs individually, as they tried to figure out how to get everyone in the passing game involved after spending a first-round draft pick on Warren, who began sharing some of the situational roles Downs had always occupied.
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One of the most important people that Downs can have in his corner, Colts head coach and offensive playcaller Shane Steichen, is expecting big things from the fourth-year receiver.
“Yeah, I think obviously losing Pitt, I think Downs, his role will step up a little bit more – more targets for him,” Steichen said. “He’s a (heck) 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.”
With the point of Moton’s piece being that Downs’ value will increase going into free agency next year, that’s been a pressing topic for Colts fans because of Pierce.
This time last year, Pierce’s contract value likely wasn’t anywhere near the $28.5 million-per-year deal he ultimately signed this offseason. It would be wise for the Colts to avoid a similar situation with Downs, who likely wouldn’t command the same price as Pierce but could still see his figures skyrocket with a bigger role and more production.
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