In an anticipated move, the Kansas City Chiefs have franchise tagged top cornerback L’Jarius Sneed, preventing him from hitting unrestricted free agency next month. Bleacher Report’s Jordan Schultz was the first to report the news.
The move was expected so the Chiefs could retain at least one of their top two pending free agents. As Schultz notes, Kansas City will focus on getting a long-term deal done with DL Chris Jones now that the tag is no longer an option for him. They’re overtures GM Brett Veach made during his media rounds at the Combine yesterday. Sneed becomes the second player tagged this offseason, joining Cincinnati Bengals WR Tee Higgins.
While tagged, it’s not guaranteed Sneed will be a Chief in 2024. As reported Tuesday by ESPN’s Jeremy Fowler, Kansas City and Sneed’s camp are open to the idea of a tag-and-trade scenario if a long-term deal can’t be reached. The franchise tag comes with a $19.02 million price tag, effectively setting the floor yearly value for a long-term deal. And any team that trades for Sneed must have the initial cap space to absorb that tag, even if an extension is worked out at a later date.
The Steelers might have interest in taking a swing at securing their outside cornerback spot opposite Joey Porter Jr., but it’s highly unlikely they’ll be players for Sneed if he becomes available in a trade. The cost to acquire and sign Sneed (presumably any team trading for him won’t let Sneed play out his tag year) is too great and Pittsburgh is more likely to hone in on cheaper and more practical options.
Heading into free agency, Sneed and the Chicago Bears’ Jaylon Johnson looked like the top two names at cornerback. But with Sneed tagged and Johnson likely to follow suit if he and the Bears can’t agree to an extension, the top end of the cornerback market looks a little less impressive.
