Fantasy impacts of the NFL trade deadline: Breaking down fantasy-relevant moves - ESPN

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Fantasy managers have their eyes on the prize as they hoped for new destinations for their beloved stars at the NFL trade deadline. Some players stayed put, some ended up in new cities and one ended the day back with familiar faces. What does it all mean going forward for managers and their rosters?

The ESPN fantasy football crew has you covered, breaking down what's in store for the new additions, as well as other players who are either stepping up or sharing the limelight. We tracked the latest news through the 4 p.m. ET deadline as managers gear up for the home stretch of the season with the fantasy analysis to make the most of these trades.

Trade deadline tracker | Fantasy Buzz

Colts trading WR Josh Downs to Chiefs

Michael F. Florio: The Kansas City Chiefs have had a need for another receiver, and Downs is a reliable target for Patrick Mahomes. Downs has struggled fantasy-wise with the Indianapolis Colts this season, averaging just 8.3 fantasy PPG. He certainly gets a QB and an offensive upgrade, but he will have more target competition in Kansas City.

Downs has split his time out wide and in the slot almost evenly this season. That versatility will help him in Kansas City, as they can use him in different formations and move him around the field. I would expect that once he is acclimated with his new offense, he plays in two-receiver sets over Xavier Worthy. He will likely serve as the third target behind Travis Kelce and Rashee Rice, but with Rice struggling as of late, Downs could earn more opportunities.

Downs is rostered in 61% of ESPN fantasy leagues, so it is worth checking waiver wires if he is out there. While managers can (and should) add him to their roster, exercise patience and don't elevate him into starting lineups just yet. It typically takes receivers longer to learn a new team's playbook, and it's likely Downs will see limited usage this week against the Atlanta Falcons, even if it is a favorable matchup.

Still, Mahomes is the biggest winner of this trade as he gets a much-needed receiver. He has averaged 17.7 fantasy PPG and his passing numbers continue to trend down. While this does not elevate him back to elite fantasy status, Mahomes remains a low-end QB1 with a bit more upside now.

As for the Colts, who also traded Keenan Allen earlier today, they are left with Laquon Treadwell, Deion Burks, Ashton Dulin and Nick Westbrook-Ikhine as the top receivers on the active roster. TE Tyler Warren is the biggest fantasy winner of the Downs trade, as he will be the unquestioned top target for Indy moving forward. Him and Jonathan Taylor are the only Colts that are fantasy relevant at the moment.

Raiders trade QB Kirk Cousins to the Vikings

Florio: Cousins officially returns to the Minnesota Vikings, where he played from 2018 to 2023 and averaged 3,879 passing yards and 29 touchdowns per season.

Cousins had been enjoying a resurgence in Vegas this season, averaging 19.1 fantasy points per game and is currently the QB5 in total points. He is second in the NFL in passing touchdowns (20) and fifth in passing yards (2,340). Perhaps there is a ramp-up period as he adjusts to a new team, but Cousins knows Kevin O'Connell's system very well and has already played with most of the Vikings' skill position players, so he should be able to settle in quickly.

Expect Cousins to hold similar fantasy value with the Vikings as with the Raiders. He is still in the low-end QB1/high-end QB2 range, and is touchdown-reliant as he does not run. The schedule in Minnesota makes it much easier to start Cousins in favorable matchups, as the Vikings have the ninth-best remaining schedule compared to 19 th for the Raiders.

The biggest winner of this trade is Justin Jefferson. He's averaged a career-low 56.1 receiving yards per game this season, after averaging 61.6 per game in 2025. In his four seasons with Cousins, Jefferson averaged 98 yards per game and had a 17-game pace of 1,671 yards and 8.5 touchdowns. He remains a must-start fantasy option and could once again reach elite status with Cousins, especially since the Vikings have the seventh-best remaining WR schedule.