Kansas City Chiefs to resign in a cornerback who helped win the Super Bowl twice

In the event that the team hopes to complete a three-peat deal with Sneed, the cost to the franchise in 2024 will increase dramatically.

When Kansas City faced a contract year in 2023, they were unable to sign their best defense to a long-term contract, much like All-Pro defensive tackle Chris Jones.

Sneed was able to increase his value by demonstrating that he could be a No. 1 cornerback who shadowed elite wide receivers by shifting to the outside under defensive coordinator Steve Spagnuolo’s scheme.

Sneed performed precisely that during a contract year. The 27-year-old was regarded as one of the top defensive backs in coverage last season, even though he was not selected for the Pro Bowl or made an All-Pro.

The gifted cornerback is now set to make big money this offseason after helping Kansas City win the Lombardi Trophy and establish themselves as one of the greatest NFL dynasties in history.

The Chiefs have two alternatives if they want to keep Sneed: either sign him to a long-term contract that may cost about $18.5 million per season or place the fully guaranteed franchise tag on him for a value of approximately $19 million. This information comes from Tony Pauline of Sportsskeeda.

Both options have costs and rewards. Sneed’s franchise tag guarantees that he won’t be available for free in a year, which is important because many clubs in the league are in need of a top cornerback.

In addition, the tag gives Kansas City the opportunity to postpone a long-term contract for a full year. This might be advantageous because it would free up $15.275 million in salary space should the Chiefs decide to remove offensive tackle Jawaan Taylor in 2025.

But having a franchise tag also means that Sneed’s $19 million 2024 salary would be fully deducted from the NFL salary ceiling, which will make Jones’ re-signing more challenging.

However, Kansas City may backload the contract with bigger cap hits at the end of the term if Sneed signs a multi-year agreement, giving them more immediate financial flexibility this summer.

In the NFL, there is very little doubt that the Chiefs will be able to keep either Jones or Sneed. Regaining both impact defenders, though, would ultimately depend on whether the franchise tag is applied and whether each player is prepared to accept a little lower salary in order to stay in Kansas City.