Chiefs to franchise tag Sneed, according to reports

Highlights

• According to reports, the Chiefs will franchise tag cornerback L’Jarius Sneed.
• It’s possible Sneed could be traded if no extension is reached.
• This move guarantees star defensive tackle Chris Jones will test the free agent market this offseason.

Following their second consecutive Super Bowl victory, and third title in five years, the Kansas City Chiefs were faced with a dilemma this offseason: star defenders Chris Jones and L’Jarius Sneed are both set to hit free agency next month. How would the Chiefs be able to keep both players?

As of late Tuesday, the team had made strides in answering that question. Per ESPN’s Jeremy Fowler, the Chiefs have informed Sneed that they will be applying the franchise tag to him, though if no long-term contract is reached, they are open to trading him elsewhere if the price is right. This also allows Sneed to test the waters and see what else is out there while keeping the Chiefs as a top contender for his signature.

Sneed was projected to be one of the top cornerbacks on the market this offseason, and his removal from free agency should increase the price tags on Jaylon Johnson and Kendall Fuller, among others.

The Chiefs will now have until July to work out a long-term deal with Sneed, though he could sign the franchise tender earlier if he wishes. As for the defender they didn’t tag, the team will have to hand Jones a market-setting extension or risk losing him for nothing more than a compensatory draft pick in free agency.

Sneed could be traded if extension falls through

Cornerback would earn roughly $19 million in 2024 on franchise tag

Sneed was one of the league’s best cornerbacks in 2023, moving from the slot (to accommodate All-Pro Trent McDuffie) to the outside and shutting down some of the best receivers in the NFL.

He posted career highs in a number of categories, including pass deflections and completion rate allowed (just 51.0%), all while seeing the highest average depth of target in his career (9.9 yards).

While the team could trade Sneed away if the two sides don’t reach an extension, that’s likely a last resort for both parties. However, the Chiefs have set a precedent for trading away star players who have become too expensive—Tyreek Hill being the prime example—so nothing should be considered off the table for the NFL’s modern dynasty.

The 27-year-old has always had issues with penalties (18 total this year, including the playoffs), but he’s a sticky man-coverage cornerback with speed down the field. The Chiefs were right to franchise tag an elite cornerback in his prime, even if it means they risk losing Jones.

Speaking of the All-Pro defensive tackle, Jones’ franchise tag would’ve been worth more than $32 million, which would have been prohibitive for a Chiefs team with around $17.5 million in cap room. The 29-year-old has been named to an All-Pro team or Pro Bowl roster in five of the past six seasons, and his potential departure could be devastating for a Chiefs defense that ranked second in the NFL in points allowed in 2023.

Jones ranked top three in every major statistic for interior pass rushers, including first among all defensive tackles in pressures and knockdowns. He might not make quite as much as Aaron Donald, but Jones should become the second defensive tackle to cross the $30 million per year threshold on his next contract.

With or without Jones, the Chiefs will return the majority of their top-tier defense next season. Combined with Patrick Mahomes and Travis Kelce on offense, K.C. should enter 2024 on the shortlist of Super Bowl 59 favorites.

Source: Jeremy Fowler

All stats courtesy of Pro Football Reference unless stated otherwise. All salary info via Spotrac.