On March 16, conflicting reports emerged discussing the idea of the Kansas City Chiefs trading veteran cornerback L’Jarius Sneed to the Indianapolis Colts.

At the time, A-to-Z Sports Indianapolis media member Destin Adams reported that the two teams were “ironing out the final details,” implying that the deal was almost done. ESPN Colts insider Stephen Holder quickly refuted that claim, calling it “not accurate.”

Later, Holder reiterated: “Once and for all: 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.”

Today on March 18, ESPN NFL insider Adam Schefter was asked about this trade rumor on the Pat McAfee Show — and the long-time reporter provided a pretty definitive update that backed his colleague’s initial statements.

"The Colts and the Chiefs haven't had any conversations about L'Jarius Sneed..

As of right now that's not happening"@AdamSchefter #PMSLive pic.twitter.com/bQuATO2Tvn

— Pat McAfee (@PatMcAfeeShow) March 18, 2024

“The two sides — quote, unquote — haven’t had any conversations,” Schefter replied. Clarifying: “Colts and Chiefs.”

Schefter added that the trade is “100% not happening,” but did acknowledge that things could always change at a later date.

Chiefs CB L’Jarius Sneed’s Extension Demands Have Been ‘Prohibitive’ in Trade Talks

This isn’t exactly new news, but Sneed’s extension demands still appear to be the hold-up in trade talks. In other words, teams are interested in Sneed as a player and are willing to pay the Chiefs’ asking price via trade, but they are not willing to pay him what he seeks in a new contract.

SINow reporter Matt Verderame explained this during a video on March 16.

Chiefs star CB L'Jarius Sneed is in demand, but his asking price on a new deal has been prohibitive.

Here's a sample of what I learned recently on the subject, before diving into where things may be headed.

Full show: https://t.co/PGHZE1Rywv pic.twitter.com/tjD8B9u79V

— Matt Verderame (@MattVerderame) March 16, 2024

“Chiefs star CB L’Jarius Sneed is in demand, but his asking price on a new deal has been prohibitive,” Verderame captioned the post. “Here’s a sample of what I learned recently on the subject, before diving into where things may be headed.”

Within the video, Verderame relayed that his understanding is that Sneed has been seeking “far too much money” in 2024 and beyond. He also noted that two teams who had been interested in the Kansas City star — the Detroit Lions and Atlanta Falcons — have since moved on at the position.

The Lions went another direction, trading for former Tampa Bay Buccaneers CB Carlton Davis instead, while the Falcons have spent their money elsewhere.

Verderame did not mention the Colts in this clip, but this bit of context jives with an earlier report from Holder of ESPN.

“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,” Holder informed on March 15.

Continuing: “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.”

Remember, Chiefs Gave L’Jarius Sneed Permission to Seek Trade

You might be wondering, how is it that some are reporting general contract discussions between Sneed and other franchises, and yet Schefter is shutting down trade talks between the Chiefs and Colts entirely?

Both can be true. Remember, the Kansas City front office gave Sneed’s agents permission to seek a trade, but they aren’t necessarily participating in these conversations themselves.

In his March 15 thread, Holder added that the Chiefs were being “reasonable,” but that he questioned whether any trade suitor would be able to “come to terms” on a contract with Sneed.

This all points to Sneed’s team searching for a trade suitor that wants to extend him — and coming up empty. While KC general manager Brett Veach and company wait with a willingness to keep their integral defensive back for one more season on the franchise tag.

Sneed himself has already expressed that he would like to return to the Chiefs for the chance at a three-peat. Perhaps, Sneed playing on the franchise tag is the likeliest outcome in 2024.