Grading the trade: Patrick Mahomes and the Kansas City Chiefs finally land the upgrade we’ve all been waiting for at wide receiver

The Kansas City Chiefs have closed the deal! In their push back to the postseason, Kansas City has secured wide receiver Josh Downs at the trade deadline.

Kyle Crabbs — NFL National Writer
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Indianapolis Colts wide receiver Josh Downs (2) drops a pass Sunday, Oct. 18, 2026, during the game against the Tennessee Titans at Lucas Oil Stadium in Indianapolis.
Indianapolis Colts wide receiver Josh Downs (2) drops a pass Sunday, Oct. 18, 2026, during the game against the Tennessee Titans at Lucas Oil Stadium in Indianapolis.

They did it! The Kansas City Chiefs actually did it. After weeks of speculation, the NFL trade deadline brought an upgrade on the perimeter for the Chiefs.

With Kansas City looking at a crowded AFC landscape, it was apparent that a move needed to be made in the name of more firepower. Well, they’ve got it. Josh Downs, you, sir…are a Kansas City Chief! How did the Chiefs do with the price? Here’s my grade for the Chiefs’ trade for Downs on Tuesday afternoon.

The Kansas City Chiefs close the deal with a sweetener, land wide receiver Josh Downs

In total, the Chiefs are sending fourth and fifth round draft choices in the 2027 NFL Draft to Indianapolis in return for Downs’ services. Downs, a fourth-year wide receiver, is set to see his rookie contract expire this winter. Given the multitude of picks sent over, it’s a safe assumption that Kansas City will attempt to secure his services long-term. But here’s where Kansas City won the deal: the price isn’t so steep that they can’t balk if they choose it’s better to spend the money elsewhere.

We’ve seen wide receivers leave in free agency who have been less productive than Downs and get $15M+ a season. If the Chiefs were to do that, they’d be well positioned to recoup half of their draft capital back in the 2028 year thanks to the NFL’s compensatory formula.

The A to Z Sports trade simulator believes the Colts won this trade “big” based on the assets exchanged. But the simulator doesn’t account for exit avenues, hedges, and team leverage…so I don’t care.

In the here and now? The Chiefs get an upgrade at wide receiver that can hopefully help break this passing game back open again. If that’s how it plays out for the Chiefs’ offense, the risk and potential financial dangers that await this offseason will have been well worth it. The Colts get their spare draft capital. Kansas City wins an arms race with the playoff push heating up. Game on.

KANSAS CITY GRADE: A

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