The Indianapolis Colts have made their third midseason move ahead of Tuesday's NFL trade deadline, sending wide receiver Keenan Allen to the San Francisco 49ers in exchange for a 2027 sixth-round draft pick.

The #49ers are adding a WR, completing a trade for #Colts WR Keenan Allen, per me and @AdamSchefter. Another pass-catcher for Brock Purdy. pic.twitter.com/TyOvlKVAaV

— Ian Rapoport (@RapSheet) November 10, 2026

Allen's departure marks another development in what has become a significant roster reset for Indianapolis, which has already parted ways with All-Pro guard Quenton Nelson and defensive tackle DeForest Buckner.

With the Colts continuing to prioritize future assets over immediate production, Tuesday's trade could open the door for additional moves before the 4 p.m. ET deadline.

Why the Keenan Allen Trade Makes Sense

When Indianapolis signed Allen to a one-year contract in August, the veteran was expected to be an important addition to an already promising offense. Following Alec Pierce's offseason ankle injury, the Colts needed another established receiving option to supplement the depth chart

Allen got off to a relatively slow start in Indianapolis, but he eventually established a strong connection with Jones. His 40 receptions led the team and his 351 receiving yards is just three behind Josh Downs for the team lead.

Allen also continued climbing the NFL's all-time receiving leaderboards, finishing his Colts tenure with 1,095 career receptions, good enough for eighth all-time.

However, with Indianapolis shifting its attention toward the future, moving a 34-year-old receiver on an expiring contract makes sense. The sixth-round pick gives the Colts something in return for a player who otherwise could have departed in free agency this offseason.

For San Francisco, the move addresses an immediate need. The 49ers have dealt with significant injuries throughout their receiving corps and are making another push toward a Super Bowl. Allen's experience, route-running ability and reliability should give Brock Purdy another dependable option as the team enters the second half of the season.

The six-time Pro Bowler also gets an opportunity to return to the West Coast and join a legitimate contender.

Who Could Be Next?

With Allen now out of the picture, several other Colts players could attract interest before the deadline.

Josh Downs remains one of the most realistic candidates after requesting a trade. However, with Allen gone, the Colts' already thin receiving corps could make them more reluctant to move Downs without an appealing return.

Grover Stewart is another name to monitor. The 33-year-old is playing on an expiring contract and has reportedly generated interest from contending teams looking to bolster their defensive line depth. Indianapolis has maintained a relatively high asking price, though, which could slow negotiations.

Daniel Jones' situation is worth revisiting after Indianapolis initially informed him he would not be traded. The Minnesota Vikings are searching for quarterback help, which could potentially put Jones back on its radar. Financially though, the Colts would benefit from keeping Jones through the season and pursuing an offseason release, which could generate substantially more cap savings than moving him immediately.

The belief around the NFL is the #Vikings will attempt to trade for a QB today as another option to have for this season before the 4 pm ET deadline.

“They won’t sit still,” a source said. “They can’t.” https://t.co/SAPIWX9RRi pic.twitter.com/7FBUZWoZx9

— Jordan Schultz (@Schultz_Report) November 10, 2026

Then there's Jonathan Taylor. The biggest potential blockbuster remains the least likely of the four. Indianapolis has fielded considerable interest in its star running back but has maintained a significant asking price, reportedly not accepting an offer from the New York Giants which included a second and fifth-round pick. The Colts reportedly view Taylor as part of their future, even though he's the most valuable trade asset they have left.

The #Giants offered the #Colts a 2nd- and 5th-round pick for RB Jonathan Taylor, but that offer has since been pulled, per @JayGlazer. pic.twitter.com/oim2SyLcuR

— Ari Meirov (@MySportsUpdate) November 8, 2026

Allen's departure doesn't guarantee another trade, but it does kick the tires on a revived fire sale in Indianapolis. With the deadline rapidly approaching, the Colts likely aren't done dealing just yet.