Schneider didn't rule out the possibility of a trade, but said it's more likely that Sherman remains with the Seahawks ahead of the 2017 season.
"Right now, I don't think the odds are very good. But if somebody comes cruising along and something happens, and we do something, it happens," Schneider said Thursday on 710 ESPN Seattle.
"I just think that the only reason we would do it is to basically create some cap room and try to become a younger football team. But that's just one option," Schneider added when asked why the Seahawks would entertain a trade for Sherman.
Sherman remained one of the NFL's premier cornerbacks in 2016 although many critics argued it was his worst season since his rookie year in 2011. The 29-year-old was irate with the Seahawks' offensive strategy during a Week 15 victory over the Los Angeles Rams, criticizing head coach Pete Carroll for a decision to throw from the 1-yard line.
Carroll and Sherman met for an extensive discussion in January, noting it was a difficult year for him.
Schneider agreed with Carroll's assessment Thursday, noting he could begin anew on another team, although it seems more likely he'll remain an integral member of the Seahawks' defense.
"I think he'd admit that he had a rough year. So he's looking for maybe a new spark, and he's either going to find that here in Seattle or he's going to find it somewhere else. But odds are he's going to find it here," Schneider said.