Report: Redskins May Franchise-Tag, Trade Kirk Cousins After Landing Alex Smith

The Washington Redskins are reportedly considering franchise-tagging quarterback Kirk Cousins before trading him.

On Sunday, Adam Schefter of ESPN.com noted the Skins are evaluating the option as a way to "recoup some of the compensation" they will trade the Kansas City Chiefs for fellow QB Alex Smith once the new league year begins in March.

There are possible pitfalls associated with the plan, though.

Cousins would need to sign the franchise-tag tender to become eligible for a trade, potentially delaying the process for months. He'd also be able to alert teams whether he'd sign a long-term contract extension with them, which could limit the market, per Schefter.

The Redskins and Chiefs reached an agreement Tuesday to send Smith to Washington for a third-round pick in the 2018 NFL draft and defensive back Kendall Fuller.

Ian Rapoport of the NFL Network reported Smith will sign a four-year, $94 million extension with $71 million guaranteed once the deal becomes official next month, locking him in as the team's starter.

Cousins said he does "expect to be a free agent, but we'll see," per Nick Shook of NFL.com. Cousins also discussed getting his first chance to pick his team since choosing to play college football at Michigan State in 2007.

"Ever since then, it's been dictated to me what would happen," Cousins said. "So if I do get a chance to pick, I look forward to that opportunity, and I'm excited to see what the future holds."

Although Cousins projects as the top free-agent quarterback available if not tagged, the risks associated with the tag-and-trade scenario would limit Washington's leverage.

In turn, the front office is probably better off letting him enter the open market and accept the pick compensation in the 2019 draft. That would be eliminated if the franchise tag is used and eventually removed if a trade is not reached.