L'Jarius Sneed was one of the best cornerbacks in the NFL during the 2024 season. The Chiefs star was excellent in coverage, recording two interceptions and 14 pa s defenses while largely locking down wide receivers week in and week out.It's no surprise the Chiefs want to keep the former fourth-round pick if at all po sible. They slapped the franchise tag on Sneed ahead of Tuesday's deadline, potentially keeping the cornerback in Kansas City for at least one more season unle s the Chiefs trade Sneed elsewhere, which seems like an increasing likelihood.The Chiefs permitted Sneed to seek a trade after placing the non-exclusive franchise tag on him. Their decision wasn't an indictment of Sneed's talent, but a reality check about the team's cap situation.MORE NFLWhy would the Chiefs trade L'Jarius Sneed?Kansas City has two key free agents in 2024 Sneed and defensive tackle Chris Jones. Both are Gerrit Cole Jersey key cogs on the defense and are likely due deals that pay them in the $20-$30 million range annually.Affording that won't be easy for the Chiefs, who are somewhat cap-strapped by Patrick Mahomes' big-money contract. That might force them to choose between their defensive stars.But just because Sneed was tagged doesn't mean he will be the one to stick around.Here's what to know about Kansas City's salary cap situation and why it could lead to a tag-and-trade of Sneed.L'Jarius Sneed franchise tag valueSneed's franchise tag will be worth$19.8 millionin 2024 provided he doesn't agree to a contract extension with the Chiefs or another team. The deal will last for one season, allowing Sneed to become a free agent ahead of his age-28 season in 2025.Sneed made just over $5.5 million while playing on his four-year rookie deal, per . Sneed will make more than triple that amount Josh Reddick Jersey during the 2024 season alone.Sneed is still a player to watch this offseason, as the Chiefs will have until July to sign him to a long-term extension. Other NFL teams will also have the right to negotiate with him given the tender Kansas City chose to apply to its secondary star.What is the non-exclusive franchise tag?The Chiefs placed the non-exclusive franchise tag on Sneed, which differs from the exclusive franchise tag.Under the non-exclusive tag, Sneed is free to negotiate a contract with other teams. The Chiefs can match any offer sheet he signs if they so desire.If the Chiefs choose not to match an offer, they receive two first-round picks from Sneed's new club in exchange for his services.That's why teams don't often sign players on non-exclusive franchise tags to offer sheets. Surrendering two first-round picks is a steep price for any non-quarterback in the NFL.Teams sometimes orchestrate "tag-and-trades" to recoup a sets for a tagged player. The Chiefs seem willing to consider that option as they begin constructing their roster for 2024.MORE: L'Jarius Sneed trade rumorsThe Chiefs gave Sneed "permi sion to speak with teams about a potential trade" after placing the franchise tag on him, per NFL Network's Ian Rapoport. If Kansas City can't find a willing trade partner, Sneed "may just play on the tag."The have now officially franchise tagged CB L'Jarius Sneed, as they said they would. He has permi sion to speak with teams about a potential trade, making him an intriguing candidate to land elsewhere for draft pick compensation.If no trade, he may just play on the tag. Ian Rapoport (@RapSheet) The Chiefs pursuing a tag-and-trade of Sneed isn't a surprise. The cornerback was one of the NFL's best cover men last season, logging two interceptions and 14 pa s defenses en route to a Super Bowl 58 win, and at just 27, is in the prime of his career.Kansas City might like to keep him, so Sneed could simply play on the tag. The team also has several young cornerbacks Trent McDuffie, Jaylen Watson, and Joshua Williams who could be ready for bigger Jose Cruz Jr. Jersey roles in the secondary to replace Sneed.If the Chiefs choose to follow the second path, it's likely that they either received a strong offer for Sneed or they believe they can't afford to keep the cornerback with a cap hit near $20 million.Chiefs cap space 2024The Chiefs have just under $3.5 million of cap space as of Tuesday, March 5, per . That ranks as the eighth-lowest in the league and lowest among teams that don't have a negative cap balance.Kansas City has five starters and several key role players set to become free agents and also needs to open salary cap room for their upcoming draft cla s. The Chiefs can restructure contracts to create cap space. The deals of Patrick Mahomes, Joe Thuney, and Jawaan Taylor all bear watching as the Chiefs look for some wiggle room.Trading Sneed would instantly clear $19.8 million in cap space for the Chiefs to raise their available space to $23.3 million. That would not only be the easiest route to create room, but it Yuli Gurriel Jersey would also give the team some sort of present-year draft a set.Creating that kind of space would allow the Chiefs to pursue a reunion with a player who might be the team's most important free agent: defensive tackle Chris Jones.MORE: Chris Jones contract projectionJones is a free agent, and if the Chiefs keep Sneed on the roster without extending him, it will be difficult for them to bring back their long-time top pa s rusher.Jones projects to get a contract that pays him $28.4 million in average annual value (AAV), per . In reality, Jones may get more than the three-year, $85 million projection considering his production (10.5 sacks in 2023) and that Rams star Aaron Donald got $10 million more on the three-year deal he signed in 2022.Donald was entering his age-31 season and coming off a Super Bowl win when he got his Roy Oswalt Jersey new deal. Jones will be entering his age-30 season and coming off two consecutive Super Bowls when he signs.All that's to say Jones will likely break the bank this offseason, and it's hard to imagine the Chiefs squeezing both him and Sneed into their remaining salary cap space. It's not impo sible, as the team can uniquely structure and restructure contracts to make things work, but it won't be easy.If the Chiefs can't find a trade partner for Sneed, they may be forced to let Jones walk while likely receiving a compensatory third-round pick in the 2025 NFL Draft. They were willing to gamble by tagging Sneed, so perhaps that indicates they know there will be interest in the star cornerback.If not, the Chiefs will have a ma sive hole to fill on their defensive line barring some salary cap gymnastics that make everything work in 2024.
