NFL Franchise Tag: Breaking down Kansas City Chiefs' options with DT Chris Jones, CB L'Jarius Sneed

The NFL's franchise tag window officially opens on Tuesday, Feb 20 at 4:00 p.m. ET and closes on Tuesday, March 5 at 4:00 p.m. ET.

The Kansas City Chiefs have multiple franchise tag candidates this year with several big-name players slated to hit the open market in March after the team's Super Bowl LVIII win. The top tag candidates for the Chiefs come on the defensive side of the ball this season with DT Chris Jones and CB L'Jarius Sneed. The team is currently projected to have $15.4 million in 2024 salary cap space without any moves to create money. That space alone wouldn't be enough to fit the franchise tag without going over the salary cap. 

The Chiefs didn't use the franchise tag in 2023. The team last used the franchise tag on LT Orlando Brown Jr. ahead of the 2022 NFL season. Brett Veach doesn't typically use the franchise tag immediately when the window opens, allowing the team time to negotiate and sign players to long-term extensions. 

We might not see movement from the team for another 15 days when it comes to their decision on the tag, but an extension for either Jones or Sneed could point toward the path forward. Who is the best franchise tag option for Kansas City? Some thoughts on the situation below:

What would using the franchise tag on L'Jarius Sneed mean for the Chiefs?

Sneed had two words for Brett Veach ahead of free agency and those two words might happen in the form of the franchise tag, at least initially. 

The franchise tag number for cornerbacks this year is expected to be $18.7 million, which would be nearly five times the money that Sneed has earned in his entire NFL career as a former fourth-round draft pick. A to Z Sports' Josh Quiepo and Kyle Dediminicantanio project that Sneed will earn a four-year deal worth $64.0M in free agency. That would be a greater APY value than Charvarius Ward received from the San Francisco 49ers a year ago by around $2M per year. 

Sneed had a tremendous 2023 NFL season for Kansas City, but he didn't have any accolades to show for it outside of a second Super Bowl ring, of course. He wasn't selected as an All-Pro or a Pro Bowler. He didn't even receive a vote for the NFL's Defensive Player of the Year Award. Ward was in a similar situation when he left Kansas City, with no All-Pro or Pro Bowl selections during his career. 

At 27 years old, Sneed falls under the parameters of a player that Brett Veach would typically sign to a long-term deal. The only thing he has going against him is the fact that the Chiefs are exceptionally deep at the cornerback position. Trent McDuffie was an All-Pro this year. Both Jaylen Watson and Josh Williams have proven they can start in this league. Nazeeh Johnson was trending to be a starter in sub packages before suffering a knee injury leading up to the 2023 NFL season. That doesn't even consider Year 2 growth from rookies like Chamarri Conner, Nic Jones, and Ekow Boye-Doe. 

What would using the franchise tag on Chris Jones mean for the Chiefs?

Jones is unlikely to receive the franchise tag due to an abnormally high franchise tag number for 2024.

Typically, a franchise tag for a defensive tackle would cost $19.7M this season. However, Jones would have to earn 120% of the prior year's salary on the franchise tag this year because he made more in 2023 than he would earn on the franchise tag this season. That pushes his franchise tag number to a staggering $32M. Only quarterbacks ($36M) have a franchise tag number that exceeds $30M this season. 

A to Z Sports' Josh Quiepo and Kyle Dediminicantanio project that Jones will earn a four-year deal worth $110M in free agency. His first-year cap hit would be only $13 million in that situation. That's a lot easier to stomach than a $32 million cap hit. However, that would require quite the heel turn from Chiefs GM Brett Veach, who traditionally hasn't handed out long-term contracts to players over the age of 30. 

Jones has made it abundantly clear that he wants to stay in Kansas City for the remainder of his career, but it might take some contract consolations to make that happen. Things seem to be on better terms now than they were when Jones decided to hold out for Week 1 of the 2023 NFL season, but this could still prove to be a tough negotiation between Jones and Kansas City.

The Chiefs, despite Jones' massive cap number, did make a move that leaves the door open for a potential franchise tag of Jones. Don't rule out a tag-and-trade scenario for the Chiefs and Jones if they are unable to reach amicable terms on an extension.