NFL Rumors: Chiefs master plan to keep L'Jarius Sneed and Chris Jones working like a charm

The Kansas City Chiefs dynasty began with offensive fireworks — the sparks of which were first ignited in 2017. In 2023, Kansas City's defense became the driving force behind the team's second consecutive championship.

If the Chiefs want to defend their title, general manager Brett Veach will have to keep his championship defense intact for the 2024 NFL season. In particular, two unrestricted free agents have loomed large in Kansas City: cornerback L'Jarius Sneed and defensive tackle Chris Jones.

It was never going to be easy for the Chiefs to keep both of their defensive stalwarts, especially after their remarkable performances during the 2023 season. There has been much debate regarding which of the two players is more valuable to Kansas City, but the Chiefs may not have given up hope on retaining both of their defensive pillars just yet.

The Chiefs placed the nonexclusive franchise tag on L'Jarius Sneed prior to Tuesday's deadline. The Chiefs informed Sneed last week that they intended on using the designation on him if no long-term contract was in place. The one-year deal is worth $19.8 million. A franchise tag for Jones would have cost $31.1 million, so it was never really a realistic option for Kansas City.

Chiefs have "growing optimism" in signing defensive tackle Chris Jones

Now, the race to retain Jones begins. The franchise tag gives the Chiefs control over Sneed's future, but it also means that the team can no longer prevent Jones from hitting the open market. Interested teams can enter contract negotiations with the All-Pro defensive tackle on March 11.

There is reportedly "growing optimism" at Arrowhead Stadium that the team will sign Jones to a long-term contract extension prior to free agency.

Veach met with Jones' agents, Jason and Michael Katz, last week to discuss a long-term deal. The All-Pro defensive tackle is seeking a contract that will pay him an average annual salary of $30 million, which would make him the second-highest paid defensive tackle behind Los Angeles Rams defensive tackle Aaron Donald. The 29-year-old defensive tackle has a market value of $28.4 million per year, according to Spotrac.

ESPN's Dan Graziano and Jeremy Fowler recently shared what they learned about Jones' situation at the NFL Scouting Combine.

"Most around the league do not expect [Jones to leave Kansas City], but they also don't expect the talented free agent defensive tackle to take a discount," Fowler wrote. "The feeling is if Kansas City can reach the range of $27 million to $28 million per year, that should help close the deal."

The Chiefs have approximately $9.6 million available salary cap space. The team parted ways with veteran receiver Marquez Valdes-Scantling earlier this week to create $12 million in cap space, but they'll need to make additional moves in order to sign Jones. Kansas City will likely convert a sizable portion of quarterback Patrick Mahomes' salary into a signing bonus to create more space for a long-term deal with Jones. The Chiefs are also open to trading Sneed if the two sides cannot agree to terms for a contract extension, according to ESPN's Jeremy Fowler. Trading Sneed would also free up cap space to sign Jones. 

The Chiefs will have to find every available penny under the 2024 NFL salary cap to retain Jones. To retain both Jones and Sneed? That will require some salary cap magic tricks.

Sneed didn't surrender a single touchdown as the nearest defender in coverage on 90 targets in 2023, per NFL Next Gen Stats. Jones earned first-team All-Pro honors in 2023 after leading the Chiefs with 10.5 sacks and 29 quarterback hits.