Breaking: Colts ‘inquire’ over a possible tag-and-trade prospect

The Indianapolis Colts’ secondary is young and inexperienced.

However, general manager Chris Ballard may rapidly reverse that with a single move. According to Tyler Dragon of USA Today, Ballard is looking at that option. On March 5, Dragon reported that the Indianapolis Colts “have expressed interest” in trading for Kansas City Chiefs cornerback L’Jarius Sneed.

Sneed, a former fourth-round choice, will not be a free agent since the Chiefs have placed the franchise tag on him. However, Kansas City is allowing him to seek a trade while negotiating a long-term contract.

“Both sides have until mid-July to finalize a long-term extension or until the NFL’s trade deadline to part ways via trade,” Dragon wrote in an email. If the Chiefs are unable to reach a long-term arrangement with Sneed, there appear to be plenty of other suitors.

According to Dragon, the Colts were one of seven clubs that inquired about Sneed. Sneed has 40 pass defenses and 10 interceptions in four seasons with the Chiefs, helping the team win two Super Bowls. In 2023, Sneed recorded 78 total tackles, 14 pass defenses, and 2 interceptions.

“Sneed is one of the top zone coverage corners in the NFL. According to Next Gen Stats, Sneed allowed no touchdowns and a league-low four yards per target in zone coverage in 2023.

According to many reports, the asking price for Sneed will be a second-round selection. However, with seven potential suitors, the possibility of receiving additional money appears to be high.

Sneed’s franchise tag will pay him $19.8 million if he plays during the 2024 season. If he is traded, his new team will most likely sign him to a new contract extension.

This summer, Spotrac predicted Sneed’s deal value to be $65.3 million over four years. While that is a larger commitment than the $19.8 million one-year contract, Sneed’s average yearly compensation on a four-year contract worth $65 million would be lower.

The Colts may be interested in signing Sneed to supplement the young cornerbacks the organization has added through the draft in recent years. Indianapolis might potentially lose a lot of secondary experience in free agency, as nickel cornerback Kenny Moore II and Julian Blackmon are unrestricted free agents.

Spotrac stated on March 6 that Indianapolis has approximately $53 million in cap space for the 2024 season. The Colts fell to sixth in salary cap space after applying the franchise tag to wide receiver Michael Pittman Jr. on Tuesday.