Chiefs to place franchise tag on L’Jarius Sneed, both sides are open to a possible trade, per report

The Kansas City Chiefs are going to franchise tag L’Jarius Sneed, but that doesn’t mean the talented cornerback will be on the team’s roster in 2024. The Chiefs are tagging Sneed, but both sides are open to a possible trade if they can’t come to terms on a longterm deal, according to ESPN. 

While the tag usually isn’t used like this, it gives both Sneed and the Chiefs options. This gives both sides the opportunity to work longer on a long-term deal. It also gives both sides the chance to explore a trade. 

Sneed and the Chiefs have until 4 p.m. ET on July 15 to come to terms on a longterm deal. But if a deal doesn’t appear to be in the works, it’s likely that a trade would take place much sooner than that. It’s conceivable to think that the Chiefs may try to trade Sneed for picks in the upcoming 2024 NFL Draft if it doesn’t appear that a longterm deal can be worked out. 

Tuesday’s news is interesting in that it makes Sneed the most attractive cornerback “available” in free agency even though he isn’t a free agent. 

The 27-year-old defensive back has been extremely consistent during his four years with the Chiefs. Over that span, he’s logged 10 interceptions, 40 pass breakups, four forced fumbles, three fumble recoveries, 6.5 sacks and has over 300 career tackles. 

Acquiring Sneed would come at a cost, however. Along with possible compensation in the form of draft picks, Sneed’s future team will also have to be willing to shell out some dough. While he may not ask to be the NFL’s highest-paid cornerback, Sneed is undoubtedly hoping to become one of the league’s highest-paid players at his position. The six highest-paid cornerbacks currently make at least $19.4 million annually, so it’s reasonable to expect that Sneed is hoping to receive similar compensation. 

As it currently stands, Sneed would make $19.802 million if he plays under the franchise tag in 2024. But given where things currently stand, it appears that the odds of Sneed playing under the tag are slim to none.