The Kansas City Chiefs have placed the franchise tag on cornerback L’Jarius Sneed, committing $19.8 million of its 2024 salary cap to the four-year veteran, according to a report from Bleacher Report’s Jordan Schultz. This non-exclusive tag allows Sneed to negotiate with other teams, and if he accepts an offer from a new team, the Chiefs have the right to match the offer or receive two first-round draft picks as compensation.

By the Numbers
  • Franchise tag committed: $19.8 million
  • Chiefs' estimated cap space after the move: $10.3 million
State of Play
  • Chiefs to have significant meetings with representatives for Sneed and free-agent Chris Jones by the end of the day
  • Kansas City began with $17.3 million in cap space, with additional space created by releasing wide receiver Marquez Valdes-Scantling
Bottom Line

The Kansas City Chiefs have committed $19.8 million of their 2024 salary cap to L’Jarius Sneed by placing the franchise tag on him, leaving an estimated $10.3 million in cap space. The team looks to have significant meetings with player representatives as negotiations continue, preparing for the new league year's start on March 13.