The Kansas City Chiefs made a move just ahead of the 2026 NFL trade deadline on Tuesday, acquiring wide receiver Josh Downs from the Indianapolis Colts. Kansas City sent a 2027 fourth-round pick and a 2027 fifth-round pick to Indianapolis. In return, the Chiefs received Downs and a 2027 seventh-round pick.

The deal should look familiar if you followed the wide receiver trade market a season ago. Jakobi Meyers went from Las Vegas to Jacksonville for a fourth-round pick and a sixth-round pick. Rashid Shaheed went from New Orleans to the Seattle Seahawks for a fourth- and fifth-round pick. The compensation in the Downs trade lands right in line with those deals, and K.C. even gets a seventh-round pick back.

Why the Chiefs were willing to part with draft capital

The need at wide receiver is the obvious answer to why the Chiefs were willing to part with two picks. Beyond the need, though, the Chiefs had a surplus of draft capital coming their way. Some of it comes from trades the team has made over the last several seasons. The rest comes from compensatory picks tied to players Kansas City lost in free agency. As things currently stand, the Chiefs are projected to have 10 picks in the 2027 NFL Draft, even after shipping two selections to the Colts.

Kansas City Chiefs’ updated 2027 NFL Draft pick outlook

The first three picks are the only selections Kansas City won’t have acquired from somewhere else. Those are the team’s own picks in Rounds 1-3. Here’s the full rundown:

• Round 1
• Round 2
• Round 3
• Round 3 (via Rams for Trent McDuffie)
• Round 5 (projected comp pick for Bryan Cook)
• Round 6 (via Falcons for Wanya Morris)
• Round 6 (via 49ers for Skyy Moore)
• Round 7 (via Colts on Josh Downs trade)
• Round 7 (projected comp pick for Hollywood Brown)
• Round 7 (projected comp pick for Josh Williams)

Kansas City had a chance at a compensatory fourth-round pick as well. That won’t happen now. Jaylen Watson, also with the Rams, went on season-ending injured reserve and will not meet the snap threshold needed to return a fourth-round compensatory pick. Instead, the Chiefs’ top projected compensatory pick is the fifth-rounder tied to Cook.

The Chiefs still have more picks than Brett Veach typically uses

Had the Chiefs held on to their fourth- and fifth-round picks, they would have been carrying far too many selections for this team. Chiefs general manager Brett Veach has never picked more than 10 players in a single draft class.

You have to go back to the 2022 NFL Draft to find the class with 10 total selections, which stands as the most for Kansas City in a single draft under Veach. The Chiefs entered that weekend with 12 total picks and still came away with 10 players.

History suggests it’s unlikely the Chiefs will keep all 10 of their current 2027 picks. Veach likes to move around on draft weekend, and having extra Day 3 ammunition makes that easier.

It’s also entirely possible that Kansas City revisits a trade for a different wide receiver in the offseason. Jaguars WR Brian Thomas Jr. is one name to keep in mind, as the Chiefs were reported to have shown heavy interest in him. They could potentially ship off more picks in a trade to acquire Thomas or another player once trades are permitted again.

Either way, this is more than enough draft capital for Kansas City to continue down the path of building up its roster. It will still be a young team, but the rookies and young players are gaining plenty of valuable experience during the 2026 NFL season. That combination of youth, experience, and a healthy stash of 2027 picks gives Veach plenty of flexibility heading into the offseason.