The Chiefs acquired Downs and a 2027 seventh-round pick from the Colts on Tuesday in exchange for 2027 fourth- and fifth-round picks, Tom Pelissero of Netflix reports.
Downs becomes the fourth Colts veteran in a contract year to get shipped out ahead of the deadline, joining guard Quenton Nelson (Seahawks), defensive tackle DeForest Buckner (49ers) and fellow wideout Keenan Allen (49ers). With the move to Kansas City, Downs will get a vast upgrade in quarterback play from Daniel Jones to Patrick Mahomes, though the 25-year-old wideout will face more competition for targets from the likes of Rashee Rice, Travis Kelce, Xavier Worthy and Kenneth Walker.