The Kansas City Chiefs officially placed the franchise tag on cornerback L'Jarius Sneed on Wednesday, sources tell Bleacher Report's Jordan Schultz. Sneed will earn over $19 million in 2024 if he plays under the tag, but the Chiefs have also given him permission to seek a trade, per NFL Network's Ian Rapoport.

The Chiefs laid out their internal offseason plans on Tuesday as both Sneed and defensive tackle Chris Jones, arguably Kansas City's two best defensive players, are set to become free agents. The Chiefs want to retain both players, but it seems that Jones is the top priority over Sneed.

Kansas City tried to get a contract extension done with Jones last offseason after the two-time first-team All-Pro held out of training camp and the Chiefs' season-opening loss to the Detroit Lions. The sides agreed to a restructured deal shortly thereafter and Jones went on to have another All-Pro season en route to helping Kansas City claim its second consecutive Super Bowl title.

On Tuesday, Chiefs general manager Brett Veach spoke about his relationship with Jones and his desire to see him remain in a Chiefs uniform.

“I love Chris,” Veach said, per The Athletic's Mark Puleo. “Tried really hard to get something done, and we didn’t, but when we got together right after that Detroit game, we had a great talk. Both parties, I think, want to be here, so we’ll get to work. That’s certainly a guy we want back and love and want to see him finish his career here in Kansas City.”

Chiefs trying to find solutions

Jones turns 30 in July but is showing no signs of slowing down. He has consistently been one of the best defensive players in the NFL since his third season in 2018, earning All-Pro or Pro Bowl honors in every season since.

As for L'Jarius Sneed, the Chiefs will attempt to extend him after they ink Chris Jones to a long-term deal. If Kansas City can’t come to an agreement with Sneed, it is open to finding him a trade partner rather than having him play out the 2024 season under the franchise tag.

The problem with having such an elite team is finding ways to retain all of your star players. The Chiefs have made tough decisions in the past, like trading away All-Pro wide receiver Tyreek Hill in 2022. On Wednesday they released wideout Marquez Valdes-Scantling, freeing up $12 million in cap space.

With the record increase in the salary cap, the Chiefs have a better chance of keeping both Jones and Sneed long-term. Just because the money is there doesn’t mean Kansas City will use it though, nor does it mean it'll balk at either player's requests.

It would be a massive win for the Chiefs if they can extend Chris Jones and L'Jarius Sneed this offseason. Brett Veach and his front office staff are one of the best in the NFL, but also one of the smartest.

It shouldn’t shock anyone if both players are still in Chiefs uniforms next season, nor should it shock them if Sneed isn't.