Chiefs place non-exclusive franchise tag on CB L'Jarius Sneed
The Kansas City Chiefs announced Monday that they have placed the non-exclusive franchise tag on cornerback L'Jarius Sneed.
The non-exclusive designation allows Sneed to negotiate with other teams while the Chiefs have the right to match any competing offer. If the Chiefs declined to match an offer, they would be entitled to draft compensation equivalent to two first-round picks from the offering team.
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If Sneed plays on the tag in 2024, he'll be owed no less than either the average of the top five cap hits at that player's position or 120% of the player's salary the previous season, whichever is greater. The projected franchise tag value for cornerbacks next season is $19.802 million. The Chiefs and Sneed can still negotiate a long-term contract.
What does this mean for Chris Jones?
Sneed was one of two high-profile Chiefs defenders slated to hit free agency this offseason. All-Pro defensive tackle Chris Jones played on a one-year deal last season and was also a candidate for the franchise tag.
Jones has expressed his desire to return to Kansas City, and general manager Brett Veach said last week that the Chiefs would like to retain both Jones and Sneed. Monday's news means that the Chiefs don't have the franchise tag available for Jones.
"Certainly we want to do what we can to try to keep both those players and that's going to be our goal and intent," Veach said at the NFL scouting combine last Tuesday. "Hopefully we're able to figure something out. But every free agency is different, unique and crazy.
"We do have one tag, and I anticipate probably using it to help us. But I think our goal is to try to get both those players done and then work down the rest of our roster."
Sneed, 27 just completed his fourth NFL season and the last year of his four-year, $3.9 million rookie contract. The Chiefs drafted Sneed in the fourth round of the 2020 draft. He started six games as a rookie and has been a mainstay in the starting lineup in the three seasons since as the Chiefs have won the last two Super Bowls.
A versatile defender, Sneed is capable of covering opposing receivers from the slot and on the outside and is frequently depended on in man coverage. The Chiefs also occasionally employ Sneed as a pass rusher, as they do with fellow starting cornerback Trent McDuffie.
In his four seasons, Sneed has tallied 10 interceptions, 6.5 sacks, 40 passes defended, four forced fumbles, three fumble recoveries, 13 quarterback hits, 303 tackles and 19 tackles for loss.
