The Indianapolis Colts’ fire sale is roaring. Indy traded All-Pro guard Quenton Nelson to the Seattle Seahawks, and Pro Bowl defensive tackle DeForest Buckner to the San Francisco 49ers Tuesday afternoon. The Colts are all in on acquiring draft capital for a rebuild, and more players could be dealt away before the trade deadline.

Now is the time for the Cincinnati Bengals to get in on the action as they have their eyes squarely set on returning to the playoffs with the easiest remaining schedule in the NFL.

All-Pro running back Jonathan Taylor has been the idolized target among fans. I broke down what that could cost last week, and newer reports indicate Taylor isn’t getting dealt without a strong deal.

Another player in the Colts offense would make just as much sense as Taylor, and he wouldn’t cost nearly as much to acquire.

Bengals would make a great landing spot for Colts WR Josh Downs

Cincinnati should seriously consider trading for Colts wide receiver Josh Downs. Downs, a former third-round pick from the 2023 NFL Draft, has been Indianapolis’ starting slot receiver for all four years of his career. He has 26 receptions for 307 yards through seven games, and he just turned 25 in August.

Cincinnati already has an imposing passing attack led by star receivers Ja’Marr Chase and Tee Higgins. The issue is what’s behind them. Starting slot receiver Andrei Iosivas is still on the Reserve/Injured with a finger injury, and rookie Colbie Young just returned to action last week from a knee injury.

Dohnte Meyers has been the starting slot for the last handful of weeks because of the injuries above him on the depth chart. Meyers has produced some positive moments, but he’s simply not the caliber of player Downs is, and he isn’t nearly as consistent. Even when Iosivas returns, his struggles with drops and separation remain a concern. Neither are weaknesses in Downs’ game. He’d immediately become the No. 3 receiver and give opposing defenses yet another threat to worry about every week. 

Why would the Colts trade Josh Downs?

Aside from the fact Indianapolis is clearly willing to offload some of its best players, Downs is playing in a contract year. The Colts also just paid Alec Pierce a hefty deal this offseason. For a team looking to rebuild, getting picks for players likely to walk next year is why they’re liquidating the roster in the first place.

Indy’s offense, specifically the passing game, is in disarray even with Downs on the field. If the Colts can get even decent draft capital for him, moving him is an easy call given where the front office’s mind already is.

Proposed trade offer

Here’s the deal: The Bengals trade their 2027 fifth-round pick straight up for Downs.

According to A to Z Sports’ trade simulator, Cincinnati would come out on top by 37 points of value. That shouldn’t scare anyone off, though. Our model had the Colts giving away more value than they received in both the Nelson and Buckner trades.

Indianapolis clearly isn’t trying to maximize the value of the compensation coming back to them right now. The decision makers are focused on accumulating draft capital by any means necessary for the upcoming rebuild, and that is something the Bengals can provide.

Cincinnati should be more than willing to part with an mid-round pick in next year’s draft. The Bengals are expected to have two third-round picks after letting Trey Hendrickson leave in free agency, so a fifth-rounder is a manageable price to pay.

Perhaps Downs’ age and interest from teams in more desperate need of a receiver, like the Kansas City Chiefs, will drive his price up. Whether other suitors get involved remains to be seen.

If the Colts are willing to take minimal returns, though, the Bengals should try to capitalize and build on what’s already a strength of this year’s team.