MINNEAPOLIS, MINNESOTA – OCTOBER 08: L’Jarius Sneed #38 of the Kansas City Chiefs reacts during the fourth quarter against the Minnesota Vikings at U.S. Bank Stadium on October 08, 2023 in Minneapolis, Minnesota. (Photo by Stephen Maturen/Getty Images)

The Kansas City Chiefs have made a decision on superstar cornerback L’Jarius Sneed as free agency draws closer.

According to ESPN’s Jeremy Fowler, the Chiefs told Sneed that they’re planning to set the franchise tag on him. That said, Fowler stated that Kansas City is “open to consummate a trade off” if the two sides can’t reach a long-term deal.

Fowler added that Sneed is on board with the idea.

Placing the franchise tag on Sneed means he won’t be going to free agency. So even if the Chiefs have to trade the two-time Super Bowl champion, they’ll still receive valuable compensation in return.

Tagging Sneed also means the franchise tag will not be placed on superstar defensive tackle Chris Jones. So the Chiefs will either have to reach a long-term deal with him or risk losing Jones for nothing when the free agent market opens up on Mar. 13.

The 27-year-old Sneed has emerged as one of the Chiefs’ cornerstone players during their dynastic run. The No. 138 selection of the 2020 NFL Draft has 10 career interceptions and 40 pass defenses to go along with four forced fumbles.

Sneed had by far his best season in 2023, recording a career-best 14 pass breakups while not allowing a single touchdown in coverage during the regular season. He had three pass defenses and one forced fumble in the Chiefs’ 2023-24 playoff run that culminated in a Super Bowl 58 championship.