L’Jarius Sneed contract demands revealed with potential Chiefs return in play

Now nearly three weeks since the Kansas City Chiefs placed the franchise tag on cornerback L'Jarius Sneed, he remains with the franchise that drafted him and with which he captured a pair of Super Bowl rings in the past two years. Many have still expected that the Chiefs will trade Sneed to a new club, much like they did with Dee Ford on the tag in 2019, but a deal has not yet materialized.

And since the start of free agency and with other trades being agreed upon, the suitors for Sneed have seemingly dropped out at an alarming rate. The Lions and Steelers both acquired other veteran corners, ones who didn't require a new contract, while Nate Taylor of The Athletic ($) reported that the Vikings, Patriots and Falcons have all gone another direction as well.

The desire to sign a new contract is inherent in a tag-and-trade scenario, but it's also a hangup. Taylor's reporting also further clarified why that's the case, noting that the Chiefs cornerback is looking for a deal that pays him around $20 million per season long-term. Meanwhile, he also alluded to Kansas City either looking for a second-round pick or a third-round pick packaged with another pick to get a trade done.

That would be a hefty investment from any interested team, which could explain why there has been little movement in the market, save for some buzz that a trade to the Colts -- a team that may still be in the Sneed sweepstakes -- was close.

But that also may lead to Sneed getting what he's said he's wanted for two years: to stay with the Chiefs.

NFL Rumors: L'Jarius Sneed contract demands revealed, Chiefs return still possible

In his report on Sneed, Taylor also talked with former NFL executive Randy Mueller who now works with The Athletic. Mueller asserted that Sneed's desire to stay in Kansas City, the risks of playing on the franchise tag, and the Chiefs' flexibility right now could all lead to the cornerback returning, perhaps on a three-year deal to maximize the 27-year-old's earning potential.

"Based on Sneed’s age and the inherent risk of playing on the franchise tag, Mueller anticipates that the player could be interested in a three-year deal — with close to $40 million guaranteed — with the Chiefs, a transaction that would help create salary-cap space ahead of training camp."

The cap space is crucial for the Chiefs and the primary reason that they'd be interested in a trade. Moving Sneed would create $19.8 million in cap space, leaving Kansas City with roughly $27 million to make further moves.

But agreeing to a three-year contract at around a full value of $60 million with $40 million guaranteed would offer less flexibility yet still quite a bit with signing bonuses and incentives in a deal that could lessen any cap hit. This has been a potential possibility for some time when reading the tea leaves, but it's also beginning to look more likely.

Taylor also hinted that the NFL Draft, which begins on April 25, could be a good deadline to monitor before the July 15 deadline for teams to sign an extension with franchise-tagged players. If Sneed is still with the Chiefs then, the possibility of a three-year deal to return to Kansas City, as Mueller suggested, increases quite a bit, even more so than it already has in recent weeks.