What is holding up potential Colts trade for L’Jarius Sneed?

The Indianapolis Colts have been reported as a team with serious interest in trading for Kansas City Chiefs cornerback L’Jarius Sneed so what is holding up the potential move?

After Sneed was slapped with the franchise tag before free agency, this became a tag-and-trade situation. That means not only does an inquiring team have to give up draft capital, but they also have to draw up a new contract for Sneed.

Agreeing on trade details can be difficult in itself. But Stephen Holder of ESPN reported it’s the latter that’s keeping a move on hold.

Regarding Chiefs cornerback L’Jarius Sneed — who was franchised and given permission to seek a trade — 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.

— Stephen Holder (@HolderStephen) March 15, 2024

The 27-year-old Sneed is coming off the best season of his career and has only gotten better since entering the NFL in 2020. He was a key piece to the Chiefs’ Super Bowl run, and he’s a perfect fit for the Colts defense.

Holder also reported the trade for Sneed isn’t coming from the Chiefs being unreasonable in their asking price. They understand it will be difficult to sign Sneed to a long-term deal, but it appears their asking price isn’t through the roof.

Ok, I was maybe a little ambiguous here. Put it this way: 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 (@HolderStephen) March 15, 2024

The Colts have spent over $200 million in re-signing their own players in free agency. They’ve added two outside free agents in the form of defensive tackle Raekwon Davis and quarterback Joe Flacco.

We’ll see if this trade continues to be stalled by contract talks, but it appears that’s where the situation stands.