The Pittsburgh Steelers may have received a promising trade update on potential wide receiver target Josh Downs of the Indianapolis Colts.

According to ESPN's Adam Schefter, the Colts have an offer for Downs for as little as a fourth-round draft pick, which may be related to a previous report that claimed the Steelers and Kansas City Chiefs offered a Day 3 pick.

“Josh Downs, the Colts have an offer of at least a four for him right now," Schefter told The Pat McAfee Show. "I don’t know why they wouldn’t move him at this point in time."

If Pittsburgh were one of the teams to have offered a fourth-round pick, it would have to be from the 2028 or 2029 NFL Draft, as their 2027 was sent to the Dallas Cowboys as part of the Broderick Jones trade.

Drafted by the Colts in the third round of the 2023 NFL Draft, Downs has caught 228 passes for 2,470 yards and 12 touchdowns in 55 career games. Emerging as one of the league's most underrated separators at the wide receiver position, Downs would be a cheap, yet game-changing acquisition for Pittsburgh's Aaron Rodgers-led offense.

It was previously reported that the Colts were looking for a third-round draft pick in exchange for Downs, but the Steelers and the Chiefs offered up Day 3 draft picks instead. If the Steelers were one of the teams to have offered the Colts a fourth-round draft pick ahead of the November 10 deadline, there's a big chance that Pittsburgh may have just landed their next wide receiver threat for the Aaron Rodgers-led offense.

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