The Kansas City Chiefs officially placed the nonexclusive franchise tag on cornerback L’Jarius Sneed on Monday.
The nonexclusive tag allows Sneed to talk to other teams, who then could work out a trade with the Chiefs. A source told ESPN’s Jeremy Fowler last week that the Chiefs had informed Sneed they were preparing to place the tag on him and were open to consummating a trade.
Pending league approval, a new contract for Sneed could be worked out as part of a trade to kick in at the start of the new league year, which begins next Wednesday at 4 p.m. ET. The source stressed to Fowler that a trade is very much on the table.
If Sneed were to play the 2024 season on the franchise tag, his salary would be $19.8 million, fully guaranteed.
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