The Kansas City Chiefs placed the franchise tag on cornerback L’Jarius Sneed this spring, but that doesn’t mean he’ll return to the team in 2024.
Sneed was given permission to seek a trade, according to NFL Network’s Ian Rapoport, after being given the tag. Any team that holds Sneed’s contract will have until July 17 to sign him to an extension, otherwise he’ll play the 2024 season on his $19.8 million franchise tag.
The Texans could be in the market for a new cornerback to play alongside Derek Stingley Jr. With Steven Nelson trending toward unrestricted free agency, Houston will need to find a suitable starting cornerback to play alongside Stingley if they decide to let Nelson walk. A replacement could come via the draft, free agency or – like in Sneed’s case – a trade.
A trade for Sneed would be costly but would give Houston another star in the secondary. Here are the pros and cons of the Texans acquiring Sneed.
Pro: Another star CB
It’s hard to find cornerbacks like Sneed on the trade block.
His on-field production speaks for itself: 10 interceptions, 40 defended passes, 6.5 sacks and 19 tackles for a loss in 57 games since 2020. Sneed also ranked first in yards per target allowed (4.8) and sixth in completion percentage allowed (51.0) this season. According to Pro Football Focus, Sneed ranks 10th in cornerback Wins Above Replacement (1.56) and first in defensive coverage stops (56) since he became a full-time starter in 2021.
Sneed, who just turned 27, would immediately turn the Texans secondary into the best unit in the NFL alongside Stingley. Both are effectively the same size (around 190 pounds each, while Sneed is 6-foot-1 and Stingley is 6-foot) and performed at a high level in 2023.
Con: Cost of acquisition
Sneed didn’t hit the open market, which means the Texans would need to cough up something to acquire him. The price for a Sneed trade isn’t clear, but history says it could be anywhere from a first-round pick to a fourth-round pick for a young and elite cornerback.
Jalen Ramsey has been traded twice since 2019 – first to the Los Angeles Rams for two firsts and one fourth and then to the Miami Dolphins in 2023 for a third. He was 25 for his first trade and 29 for second trade. Splitting the difference overall, Sneed could cost a second-round pick. Or perhaps a first-round swap with the Chiefs (No. 23 for No. 32) and a Day 2 pick.
That’s a lot of capital to pay for a cornerback. We’ll see if Nick Caserio and DeMeco Ryans value the position that much or if they’d rather sign someone in free agency or go through the draft.
Pro: Versatility
Sneed proved throughout his career that he can play all over the secondary.
He tallied at least 900 defensive snaps in each of the past three seasons, which ranks seventh among all cornerbacks since 2021. During those snaps, Sneed played in the slot, on the outside and even blitzed the quarterback (he ranked No. 1 in blitzes by cornerback since 2021).
That versatility goes a long way for any defensive-minded coach.
Con: New extension price
Sneed is only on the trade block because the Chiefs aren’t going to give him a contract extension.
He could command a top-10 salary for his position, which would be at least $17 million per year. Dallas Cowboys cornerback Trevon Diggs signed a five-year, $95 million deal in 2023 which didn’t make him the highest-paid player at his position but put his $19.4 million APY a tad below what Sneed would make on the franchise tag.
The Texans have the money to pay Sneed that money – but will they? It will all depend on if they value the position more than defensive end or running back in free agency. Or if Caserio wants to spend lavishly at a major defensive position.
Verdict
The price may be high, but Sneed is a blue-chip player that would immediately elevate Houston’s defense.
The Texans need to take risks with their best players on cheaper deals, and cornerbacks are – usually – good investments if they’re the right player. Sneed appears to be that player, and Ryans saw firsthand how good a Chiefs cornerback can play in his defense when San Francisco signed Chavarius Ward in 2022.
A first-round pick for Sneed might be a little too rich, but there will likely be room to negotiate in any deal.
Verdict: Do the trade
