Chiefs Place Franchise Tag on CB L’Jarius Sneed, Still Seeking Traded

The Kansas City Chiefs have officially placed the non-exclusive franchise tag on cornerback L’Jarius Sneed, the team announced on Monday ahead of Tuesday’s deadline.

With the tag, the Chiefs are offering Sneed a one-year deal for $19.8 million, but it doesn’t seem likely that he will play in 2024 under that contract.

Kansas City general manager Brett Veach said during the 2024 NFL Combine in Indianapolis last week that it’s the Chiefs’ desire to sign Sneed to a long-term contract extension. By tagging him, the Chiefs prevent Sneed from hitting the open free agent market next week.

“Hopefully we’re able to figure something out,” Veach said. “But every free agency is different, unique and crazy.”

If the Chiefs are unable to sign Sneed to a long-term extension, they do not have a desire to see him play out the 2024 season under the franchise tag, and would instead prefer to trade him. To that end, Veach has given Sneed’s representatives permission to seek a trade with another team, according to a report by Ian Rapoport of NFL Network.

Rapoport said that the Chiefs are seeking a second-round draft pick in exchange for the rights to Sneed.

Nick Farabaugh of Steelers Now reported that the Pittsburgh Steelers are one of the teams that have reached out to the Chiefs about acquiring Sneed.

Source: Steelers Express Interest in Chiefs CB L’Jarius Sneed

The Steelers or another team acquiring Sneed  would have until mid-July to work out a long-term extension. Otherwise, he would have to play under the tag contract for 2024 — or not at all, as Steelers running back Le’Veon Bell did in 2018, when he refused to play under the tag.

The Steelers have two of their top cornerbacks from 2023 under contract, but only Joey Porter Jr. seems like a long-term solution at the position. Patrick Peterson is 33 years old and is a potential salary cap casualty. Levi Wallace and Chandon Sullivan are free agents. 

Adding Sneed to Porter would likely settle the position for a long time for the Steelers.