Abstract: A downrigger for use in maintaining terminal fishing tackle at a desired depth in the water, the downrigger including a base housing indexably mounted on a base adapted to be fixed to a water craft, the base housing carrying a telescoping extensible boom which may be moved to an unobtrusive position when not in use and which also incorporates improved means for preventing jamming of the trolling weight cable during trolling operations. The base housing also carries a cable reel having a single crank handle readily adaptable for either right or left hand use, and the base housing includes means for securely holding a fishing rod during trolling operations while permitting the fishing rod to be easily and quickly released from the downrigger when a fish strikes.