While a new report claims the Indianapolis Colts are closing in on a trade for star cornerback L’Jarius Sneed, a separate claim suggests while they may be close on the trade terms, there is one major issue that could sink any deal for all interested teams.
Heading into the offseason, Kansas City Chiefs cornerback L’Jarius Sneed was seen as one of the top players in his position on the free agent market. However, the organization never let him hit the open market and slapped their franchise tag on the 27-year-old with the likely result being a trade out of town instead of a new long-term deal.
- L’Jarius Sneed stats (2023): 78 TKL (5 TFL), 14 PD, 2 INT, 1 FR, 3 QB Hits
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Over the last few weeks, there have been several teams linked to a potential L’Jarius Sneed trade. But on Saturday a new report from Destin Adams of A to Z Sports claimed the Indianapolis Colts were near a deal for the two-time Super Bowl champion.
However, ESPN Colts reporter Stephen Holder quickly shot down that report based on his own sourcing. “There is no trade in place between the Chiefs and Colts for L’Jarius Sneed. I was told this unequivocally from the highest levels of the Colts organization,” Holder wrote on X, formerly Twitter.
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But in a separate post, he explained what is the likely holdup in a deal that would send Sneed to the Colts, or any team interested in his services this offseason.
“My understanding is the holdup is less about KC’s willingness to trade him and more about the challenge of agreeing to a new contract. [It] would effectively be a sign-and-trade situation, so there are two boxes to check: Trade compensation and a new deal.
“The Colts and other teams continue to have interest but that’s where it stands … I was told the Chiefs are being reasonable. The bigger question is whether anyone can come to terms with Sneed on a contract.”
– Stephen Holder
The franchise tag for cornerbacks in 2024 is $19.8 million. Three players at the position average $20 million or more next season and Sneed may be looking for a similar pay rate for multiple years despite not having a Pro Bowl on his resume.
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