The Kansas City Chiefs announced on Monday that they have place cornerback L’Jarius Sneed on a non-exclusive franchise tag.
The non-exclusive tag means that Sneed is still open to negotiate a new contract with other teams, but the Chiefs retains the right to match that offer sheet. If they elect not to, then Sneed can proceed to sign with his new team and KC will receive two first-round picks as compensation.
L’Jarius Sneed Franchise Tag
Contract details and what it means for Chiefs salary cap
Sneed’s tag is worth $19.8 million, which is the value of cornerback tags under the current CBA for 2024. That’s exactly the amount he’ll take up in cap space for the Chiefs should he sign the deal.
Was using the franchise tag on Sneed the right move?
Tagging Sneed was the correct move for Kansas City as it ensures that it retains its second-best corner opposite All-Pro Trent McDuffie. While he’s an important piece for the Chiefs, the main priority is working out a new deal for defensive tackle Chris Jones and this gives them the flexibility to get that done.
What it means for Chiefs, Sneed in future?
Sneed has played an important role in the Chiefs’ back-to-back Super Bowl runs and if doesn’t sign an offer sheet elsewhere, they’ll now have both of their starting corners back in their quest for a three-peat. The veteran corner will then have an opportunity to showcase himself in an effort to secure a lucrative, long-term deal once next year’s free agency cycle rolls around.