Colts 'Inquire' About Potential Tag-and-Trade Candidate
The Indianapolis Colts have a lot of youth and not a ton of experience in their secondary. But general manager Chris Ballard could change that very quickly with one trade.
According to USA Today's Tyler Dragon, Ballard is exploring that possibility. Dragon reported on March 5 that the Colts "have expressed interest" in trading for Kansas City Chiefs cornerback L'Jarius Sneed.
A former fourth-round pick, Sneed will not be a free agent because the Chiefs placed the franchise tag on him. However, Kansas City is allowing him to seek a trade while negotiations continue for a long-term deal.
“Both sides have until mid-July to finalize a long-term extension or until the NFL’s trade deadline to part ways via trade,” wrote Dragon.
The Chiefs apparently have plenty of suitors for Sneed if they can't come to a long-term agreement with the cornerback. Dragon reported that the Colts were one of seven teams to inquire about Sneed.
Over four seasons with the Chiefs, Sneed has registered 40 pass defenses and 10 interceptions while helping Kansas City win two Super Bowls. In 2023, Sneed posted 78 combined tackles, 14 pass defenses and 2 interceptions.
“Sneed is one of the best zone cover corners in the NFL. According to Next Gen Stats, Sneed allowed no touchdowns and a league-low four yards per target while in zone coverage in 2023.”
Multiple sources have reported the asking price for Sneed will be a second-round pick. However, the potential for more compensation appears likely with seven possible suitors.
The franchise tag will pay Sneed $19.8 million if he plays on it during the 2024 season. If he's traded, though, his new team will more than likely sign him to a new extension.
Spotrac projected Sneed to be worth $65.3 million on a 4-year contract this offseason. While that's a bigger commitment than the 1-year contract at $19.8 million, Sneed's average annual salary on a 4-year, $65 million contract would be lower.
The Colts could be interested in adding Sneed to supplement the young cornerbacks the team has added in the draft in recent years. Indianapolis could also lose a lot of secondary experience in free agency with nickel cornerback Kenny Moore II and Julian Blackmon unrestricted free agents.
Spotrac reported on March 6 that Indianapolis possesses roughly $53 million in cap space for the 2024 season. The Colts dropped to seventh in salary cap space after placing the franchise tag on wide receiver Michael Pittman Jr. on Tuesday.
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