Josh Downs makes return to practice

Pierce remains well behind schedule following offseason surgery on his ankle, with it now coming to light that the veteran receiver required a second PRP injection in his left ankle. Now well beyond the original recovery window following the late-March surgery, Pierce appears to be in legitimate danger of missing time when games start to count if the platelet-rich plasma injections do not speed up his recovery for the second time. Pierce signed a four-year, $114 million contract extension with the Colts this offseason after the team lost Michael Pittman in a trade to the Steelers, signifying an intent to move forward with Pierce as their primary option at the position. That move could prove costly if Pierce misses regular season time. Josh Downs and Tyler Warren would be in line to benefit the most from any absence from Pierce.

Downs has missed two straight days of practice with the injury, but Steichen said on Sunday that he could return on Tuesday when the Colts have joint practices with the Patriots. This is good news for Downs and his fantasy managers, as the fourth-year receiver is expected to take on an expanded role with Michael Pittman now on the Steelers and the Colts experimenting with him more on the outside.

This is the second-straight missed practice for Downs, who is managing a groin injury. The team has not provided any additional updates on Downs’ status or how long they expect him to be sidelined, so this will be something we continue to monitor until we get more information on how long he could be out. Downs is one of two starting receivers currently sidelined for the Colts, as Alec Pierce (ankle) continues to recover from offseason surgery.

Reporters noticed Downs in street clothes on the sideline at the beginning of practice. He’s dealing with a groin injury, according to the team. There should be an update on Downs’ status following the conclusion of Saturday’s practice. For now, it’s not a great sign that Downs is dealing with an injury so close to the start of the regular season, though it’s unclear if he’s dealing with a long-term injury.

According to PFF, Downs has logged 1,561 slot snaps and 448 perimeter snaps over the course of his career. Per Colts coach Shane Steichen, the plan this offseason was to get Downs some reps on the outside in spring practices “and see where that goes.” Downs clearly profiles as the second-best Colts receiver behind Alec Pierce, so it makes plenty of sense to see if he can stick on the field in 12-personnel sets. With Pierce (ankle) still sidelined and on a murky timetable for the beginning of the season, there is also a path for Downs to see a heavy target share if Pierce is sidelined early. Downs has a chance to beat his current WR4 ADP.

Taylor, 27, has totaled more than 320 offensive touches in each of the last two seasons. His current $14 million annual salary makes him the seventh-highest-paid running back in the league. Taylor has set multiple Colts records, operating as the centerpiece of Indianapolis’ offense for years. FOX 59’s Mike Chappell writes that it is “uncertain whether there’s a mutual desire to keep Taylor in Indy beyond 2025.” Multiple Colts stars, including DTs DeForest Buckner and Grover Stewart, OG Quenton Nelson and WR Josh Downs, are also entering the final year of their deal. Chappell believes owner Carlie Irsay-Gordon “might believe it’s more prudent to allow the upcoming season to run its course rather than reinvest in lucrative contracts.” Time will tell.

The Colts’ intent to increase Pierce’s involvement was made apparent by the four-year, $116 million contract he signed last month. Downs produced career lows in targets (84), receptions (58) and yards (566) last year, struggling to compete with TE Tyler Warren as a slot weapon. This is the second positive report for Downs this week, though which is encouraging. Downs currently finds himself in the fantasy WR4 discussion, but could improve his standing by becoming the Colts’ go-to pass catcher in the short-to-intermediate target depth this summer. Pierce has a wide range of potential outcomes as he attempts to transition from a downfield role to being the team’s X-receiver. He can be valued similarly to Downs and may possess a higher upside.

Holder quotes Colts GM Chris Ballard as saying “I think Josh Downs is freaking good. I do. I’ve always thought he’s good. I think allowing him some more opportunities, we’re going to see some of the special stuff you’ve seen in the past, but more.” Downs probably is in line for the WR4 discussion in 2026 with Michael Pittman off to Pittsburgh, in what amounts to a make-or-break season in his walk year. We’d feel more comfortable boosting Downs if we were sure Daniel Jones were going to be healthy in Week 1, but he certainly has demonstrated the talent to be a fantasy factor in flashes.

He also projects some of Pittman’s targets to head to Josh Downs, perhaps elevating Downs to the fantasy WR4 line. Warren tapered off down the stretch as the Colts struggled with injured Daniel Jones and without Really Injured Daniel Jones. It does make sense that he’d take a second-year leap and be the preferred possession receiver in Pittman’s absence.

Aaron Rodgers’ new No. 2 receiver figures to fit in well in Mike McCarthy’s West Coast system. Because we’re expecting the Steelers to throw less in 2026 than the Colts did, Pittman Jr. probably profiles best as a WR4 going forward. It’s still a huge upgrade for the Steelers on a position where they were desperately trying to find bodies that Rodgers approved of towards the end of 2025. Adam Schefter reports the Steelers will sign Pittman Jr. to a three-year, $59 million extension as part of the trade. The $24 million cap savings for the Colts are the main benefit — it also helps solidify Alec Pierce as the team’s No. 1 receiver and elevates Josh Downs into a bigger role in 2026.