According to ESPN's Adam Schefter, sources say the Washington Redskins will consider placing their franchise tag on quarterback Kirk Cousins so they can trade him and recoup some of the compensation in the Alex Smith trade.

If that happens when the new league year begins on March 14, this would be the third season in a row the team has put the tag on Cousins. Doing so would prevent the quarterback from being a true unrestricted free agent, able to sign wherever he wants.

Cousins was considered to be the NFL's top available free agent entering the upcoming offseason, expected to draw interest from the Arizona Cardinals, Denver Broncos, New York Jets and other teams desperate for a starting quarterback.

Schefter says the 29-year-old would still have some leverage if the Redskins do tag him, as 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.

Alternatively, the Redskins could let Cousins walk and become a free agent and receive draft pick compensation in 2019.

The Redskins and Kansas City Chiefs reached an agreement on Jan. 30 to send Smith to Washington for a third-round pick in the 2018 NFL draft and defensive back Kendall Fuller.

The NFL Network's Ian Rapoport 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.