Bold Tag and Trade Idea Sends Trey Hendrickson to Colts in Surprise Swap

The Cincinnati Bengals address a sneaky need in the process.

Cincinnati Bengals defensive end Trey Hendrickson (91) sacks Indianapolis Colts quarterback Gardner Minshew (10) in the fourth quarter during a Week 14 NFL game between the Indianapolis Colts and the Cincinnati Bengals, Sunday, Dec. 10, 2023, at Paycor Stadium in Cincinnati. | Kareem Elgazzar/The Enquirer / USA TODAY NETWORK

CINCINNATI — It's no secret that the Bengals should tag and trade Trey Hendrickson. I've been upfront about the approach they should take this offseason regarding the former NFL sack leader and All-Pro defensive end.

Hendrickson is one of the top free agents in this year's class. Trading him and getting an asset that helps the Bengals in 2026 should be high on their priority list going into the NFL combine this week in Indianapolis.

Trey Trade Proposal

Detroit Lions quarterback Jared Goff (16) is sacked by Cincinnati Bengals defensive end Trey Hendrickson (91) during the second half at Paycor Stadium in Cincinnati on Sunday, Oct. 5, 2025. | Junfu Han / USA TODAY NETWORK via Imagn Images

There have been plenty of tag and trade scenarios discussed in recent weeks. Most of them involve the Bengals getting a draft pick in exchange for their star pass rusher. What if they traded for a player instead?

The Colts are rumored to be interested in Hendrickson. Indianapolis probably wants to hang onto as much draft capital as possible after trading away two first-round picks for Sauce Gardner at the trade deadline.

The Bengals should be open to a trade involving a veteran player. Josh Downs can be that guy.

Trade Proposal

Hendrickson for Downs, straight up. The Colts land arguably the best free agent in this year's class and the Bengals address a sneaky need on offense with a proven player.

Downs, 24, is entering the final year of his contract with the Colts. He'd become an instant contributor on a Bengals offense that includes Ja'Marr Chase and Tee Higgins. He'd give Cincinnati a more well-rounded offense.

Josh Downs

Indianapolis Colts wide receiver Josh Downs (1) runs with the ball Sunday, Dec. 10, 2023, during a game against the Cincinnati Bengals at Paycor Stadium in Cincinnati. | Robert Scheer/IndyStar / USA TODAY NETWORK

Downs is coming off the worst season of his career and he still hauled in 58 catches for 556 yards and four touchdowns. The Colts' issues at quarterback were certainly part of his struggles this past season.

There's a lot to like about Downs. He's a smaller, quicker wide receiver that the Bengals don't currently have on the roster. He has 198 catches for 2,140 yards and 11 touchdowns in three seasons. He has hauled in 67.6% of the passes that have gone his way.

Downs is one of the better slot wide receivers in the NFL. He still has untapped potential. So why would the Colts make this move? It's simple: to land Hendrickson. They are also hoping to pay Alec Pierce this offseason.

Josh Downs Pro Football Focus Grades | PFF.com

Double Downs

Nov 29, 2025; Ann Arbor, Michigan, USA; Ohio State Buckeyes defensive back Caleb Downs (2) reacts in the second half against the Michigan Wolverines at Michigan Stadium. Mandatory Credit: Rick Osentoski-Imagn Images | Rick Osentoski-Imagn Images

This move would at least keep the door open to the Downs brothers playing together in Cincinnati. Former Ohio State star Caleb Downs is one of the top prospects in this year's draft class. There's reason to believe the Bengals could take him with the 10th overall pick—if he makes it that far.

A Downs reunion in Cincinnati would be a fun storyline.

Ultimately, though, this move wouldn't be about storylines. A Hendrickson-for-Downs swap would give the Bengals a proven player that helps fill an underrated need on offense for a Cincinnati team that needs to get back to the postseason after missing the playoffs in each of the past three years.