Holt is a target for Hammers boss Sam Allardyce.
"Sam does like a big guy up front but we have got Maynard and Baldock who score goals when they are in the side," Downes told talkSPORT.
"[Cole also] weighed in with his 15 last year but when you go into the Premier League the more firepower you have got the better.
"I'm sure a centre forward will be on the list as will all other positions. Sam is away at the moment and I haven't had any conversation about Grant Holt with him so I couldn't confirm or deny that."