The Tennessee Titans acquired star cornerback L'Jarius Sneed in a trade with the Chiefs late Friday night, sending a 2025 third-round pick to Kansas City along with swapping seventh-round picks in the 2024 draft.
The Chiefs had given the outstanding cornerback the franchise tag, and, after having committed $158 million over five years to Chris Jones, it seemed like a trade was a distinct possibility.
Enter the Titans.
With around $45 million in salary cap space, and complete with a new coaching staff led by Brian Callahan, the Titans had already committed dollars to CB Chidobe Awuzie, WR Calvin Ridley, RB Tony Pollard and DL Sebastian Joseph-Day, among others.
Consider Sneed the crown jewel of the Titans' roster overhaul.
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Salary Cap Impacts
Sneed will sign a reported $76 million deal over four years, according to Bleacher Report's Jordan Schultz.
Sources: Here are the terms on L'Jarius Sneed’s new contract extension with the #Titans:
— Jordan Schultz (@Schultz_Report) March 23, 2024
$19M APY over 4 years
$55M guaranteed
MASSIVE 💼 https://t.co/swZliQ9vyk
Depending on how that money is broken down, it would seem Sneed's cap charge for 2024 will likely be north of $10 million. Even after a flurry of activity this offseason, the Titans still have plenty of room under the cap.
Landing Among Highest-Paid CBs
The deal, as reported, would put Sneed among the highest-paid cornerbacks in the NFL in terms of APY ($19 million) and guarantees ($55 million). Those numbers are similar to the deal the Bears signed CB Jaylon Johnson to earlier this offseason -- same terms, and $1 million more in guarantees, in fact. Others, like New Orleans' Marshon Lattimore and Dallas's Trevon Diggs, have similar APY on five-year deals.
Championship Pedigree
Sneed was a key member of back-to-back Super Bowl champions in Kansas City, having come up with perhaps the biggest play of the postseason in the AFC title game against Baltimore.
The play that franchise CB L’Jarius Sneed made to help the Chiefs beat the Ravens in the AFC Championship Game to advance to Super Bowl LVIII: pic.twitter.com/N4bX7VemAr
— Adam Schefter (@AdamSchefter) March 23, 2024
Kansas City held on to a 17-10 win over the top-seeded Ravens, a result seemingly held in place by this forced fumble late in the second half.
Getting Value in the Deal
The Titans only had to send a Day 2 pick in next year's draft to acquire Sneed. On paper, it seems light, but when having to ink a player to a top-of-market extension, teams aren't necessarily inclined to send back a boatload of picks.
Titans Previously Tried to Acquire Sneed
Tennessee had the framework of a trade already worked out with Kansas City, according to the Athletic's Nate Taylor, but talks broke down earlier in March in regards to Sneed's extension.
Whether that was the Titans agreeing to meet Sneed's asking price or Sneed backing off a request for more than he reportedly signed for remains to be seen, but the Titans landed one of the game's better cornerbacks, and his contract fits in line with that distinction.
