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The 2024 NFL offseason is getting set to take off. Starting tomorrow, Tuesday, February 20th, the window will open for teams to designate franchise or transition tags on pending free agents. In the end, that two-week window will conclude and close on Tuesday, March 5th. In what is set to be a star-studded free agent class, we could see a fair amount of teams utilize the franchise tag. Will the Kansas City Chiefs be one of those teams to issue a franchise tag in 2024?
As we noted in our initial look at the 2024 free agents for Kansas City, the Chiefs have many big names who are set to have their contracts expire. Many of the pending free agents for the Chiefs come from the defensive side of the ball. On the flip side, the pending offensive free agents present much less headaches or difficult decisions.
How have the Chiefs treated the idea of the franchise tag in recent history? Plus, who are the Kansas City players worth considering using the franchise tag on? Let’s kick it off.
Franchise/Transition Tag Breakdown
For those that are unaware of the franchise tag, let’s take a quick look at what this term means. Simply put, a franchise tag is a one-year contract that teams can place on players set to become unrestricted free agents. Each team only has one tag to use in each offseason.
Players and their original team can still negotiate a long-term deal before the July deadline if they receive the franchise tag. But if that long-term contract does not materialize, the player could stick with their original team on a fully guaranteed one-year deal.
In the event that a player does not sign the franchise tag after receiving it, teams can lose that player to another team. This could come via a trade. Or, teams can also receive draft-pick compensation for losing a player after franchise tagging them.
Exclusive Franchise Tag
Under the exclusive franchise tag, players are no longer able to negotiate with other teams. Their original team has full control over the players’ contract negotiations and leverage.
Non-Exclusive Franchise Tag
Under the non-exclusive franchise tag, players are allowed to negotiate with other teams. However, there is an added bonus for the original team in this scenario. That team has the ability to match any outside contract offer to retain their own player that received the franchise tag. Meanwhile, the original team can also choose to not match any outside contract offers. If that were to happen, the original team would then receive two first-round picks for losing the player.
Transition Tag
The transition tag is rarely used of all the categories. Yet, there have still been some transition tags issued in the NFL in recent memory. Like the non-exclusive franchise tag, the player can negotiate with other teams. And that team can match any outside contract offer, if they so choose, once again. The main difference is, the original team does not receive any draft-pick compensation if they choose not to match an offer.
Chiefs Have Varied History With Franchise Tag
Brett Veach became Chiefs general manager late in the summer of 2017. During his tenure as Kansas City general manager, the Chiefs have issued the franchise tag three times. That is exactly half of the six offseasons in which he has had the opportunity to do so. The first of those three, was placing the franchise tag on pass rusher Dee Ford in 2019. Shortly after getting tagged, the Chiefs traded Ford to the San Francisco 49ers. Kansas City netted a second round pick from San Francisco. As for Ford, he received a five-year contract extension upon joining the 49ers.
Elsewhere, the Chiefs franchise tagged star defensive tackle Chris Jones in 2020. Four months later, he and Kansas City agreed to a four-year contract extension worth $80 million total in July of 2020. A couple of years later, the Chiefs used the franchise tag on offensive tackle Orlando Brown Jr. Kansas City did not reach an extension with Brown Jr. in that 2022 offseason. Ultimately, he would play on the franchise tag for a fully guaranteed $16.7 million in what was Brown Jr.’s final season with KC.
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KC Players Worth Considering
Of all of the pending free agents for the Kansas City Chiefs, there is likely only two worth considering for the franchise tag. The aforementioned Jones at defensive tackle is one option. Cornerback L’Jarius Sneed would be the other option among the 2024 KC free agent class. If Kansas City were to tag either player, the Chiefs would likely try to keep both defenders. If the franchise tag is not utilized, though, it seems increasingly difficult that the Chiefs could retain both defensive stalwarts.
Notable Items Regarding Jones
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Last week, Kansas City picked up an option on Chris Jones’ contract, as reported by Ian Rapoport of NFL Network. Granted, the $4.25 million that they were paying was due regardless, via incentives. But it was not all about the money for incentives. All told, Kansas City retained the right to franchise tag him again, by picking up this option, based on the language in his latest contract.
The thing is, Jones is in a unique position as a potential franchise tag candidate. The value of the franchise tag is determined by averaging the top five salaries league-wide at a player’s position. His franchise tag figure would be just under $20 million in most cases.
Nonetheless, his salary cap hit was significantly higher than that in 2023. As a result, the Chiefs would face a franchise tag figure that is calculated by taking 120 percent of his previous year’s salary cap number. That would work out to roughly $32 million, in total. As good as Jones is for the Chiefs, no team is going to be using a franchise tag with that figure in mind. A long-term contract extension is the more likely route between KC and Jones, if they opt to retain him.
Notable Items Regarding Sneed
Could tagging Sneed make more sense? If the Chiefs were to use the franchise tag on him, the cornerback would cost just over $18 million for one season. That is if he were to play on the tag and not land a contract extension with the Chiefs.
Historically, Kansas City has not extended homegrown cornerbacks under Andy Reid. They have a well-rounded cornerback room beyond Sneed, notably with Trent McDuffie. However, the continued growth of this player and the physicality that Sneed brings is perfect for Steve Spagnuolo‘s defense.
The Chiefs have shown a desire to keep Sneed publicly. There is something that could make tagging him unlikely, anyways. For one, there are likely to be multiple moves needed in other positions on defense. Especially if Kansas City retains Jones on a long-term extension, money is likely going to be necessary elsewhere. To boot, the Chiefs have set firm lines recently on how much they are willing to break the bank for non-quarterbacks. The franchise tag obviously makes more sense for Sneed than Jones, from a monetary standpoint, if they were to utilize it. But, Kansas City has been willing to take risks with losing top pending free agents and remain stingy with how they handle deals that could be near the top of market value.
Be on the lookout for more FPC Chiefs articles and analysis throughout this week. For more great sports and NFL content, stay tuned to Full Press Coverage.
– Braden Holecek is the Kansas City Chiefs managing editor for Full Press Coverage. He covers the NFL. Like and follow on Follow @ebearcat9//platform.twitter.com/widgets.js Follow @FPC_Chiefs//platform.twitter.com/widgets.js and Facebook.