PFF Projects Long-Term Contracts for KC Chiefs’ Key Free Agents

Brad Spielberger's 2024 rankings provide a primer on some of the Chiefs' biggest free agents and how much they could cost on the market.

The Kansas City Chiefs are finishing up their 2023 regular season slate, but it's never too early to take a look ahead to what the offseason may have in store.

It could be a hectic time for general manager Brett Veach, as there are plenty of potential holes to patch up and several key free agents to take care of. Kansas City is expected to make major decisions at positions like wide receiver, defensive tackle, cornerback and more. That comes with opportunities to retain in-house talents, but it also leaves the door open for some external acquisitions. 

Ahead of the offseason, there's a lot of talk surrounding a few of the Chiefs' top upcoming free agents. In his 2024 NFL free agent rankings for Pro Football Focus, Brad Spielberger dives into contract projections for Chris Jones, L'Jarius Sneed and Drue Tranquill. Factoring in elements such as age, performance and comparisons to other big-time contracts, the rankings and valuations are composed to "provide important context for every 2024 NFL free agent's situation this offseason."

What do the rankings have to say about the aforementioned Kansas City trio? Let's take a look. 

Chris Jones set for a big-time payday in the spring?

The projection: Four years, $120 million ($80M guaranteed)

Taking home the No. 1 spot in the rankings, Jones will undoubtedly be a highly sought-after free agent should he hit the open market in the spring. The All-Pro defensive tackle has 7.5 sacks in 13 games this year and remains one of the best interior pass-rushers in the entire sport. While Jones hasn't been able to replicate his 2022 production, his season does set him up for a nice check from a prospective team.

Jones and the Chiefs couldn't come to terms on a long-term contract last offseason, and it remains to be seen whether there will be a resolution this time around. Would Kansas City be willing to shell out $30M a year to someone who'd be entering his age-30 season and had a slight drop-off in play from his career year? That's a tough sell. Outside of Aaron Donald, though, Jones is on a short list of premier interior players on the defensive side of the ball. Spotrac estimates his annual worth at $28.9M. 

How much could a L'Jarius Sneed extension cost?

The projection: Three years, $52.5M ($35M guaranteed)

The "contract year" oftentimes leads to players setting themselves up well for sizable contracts, and that very well could ring true for Sneed as well. The fourth-year man has blossomed into one of the better defensive backs in all of football this season, after all. Not only is Sneed playing airtight coverage and shadowing opposing No. 1 receivers, but he's also maintained a tremendous presence as a run defender. The Chiefs think the world of him, which is hard to disagree with.

At Spielberger's $17.5M estimate on an annual value basis, Sneed would rank eighth among all cornerbacks in that regard. He'll be in his age-27 season coming out of a rookie deal, so age is something to factor in here. With that said, the No. 10-ranked player on the free agent list is still worth just about whatever he makes in the spring. Spotrac's estimate comes in at a $6.8M mark that's significantly lower than expected, although OverTheCap falls at a more realistic $15.3M figure. Sneed likely surpasses even the latter total on a per-year basis.  

Drue Tranquill once again picked as a bargain signing

The projection: Two years, $6.75M ($3.75M guaranteed)

When the Chiefs signed Tranquill to a one-year, $3M deal during the offseason, they had no clue how much value they'd end up getting out of him. The fifth-year man has played a major role in Steve Spagnuolo's defense this year, stepping in for an injured Nick Bolton two separate times and doing a tremendous job in the process. In 13 games this season (eight starts), Tranquill has 74 tackles, seven tackles for loss, six quarterback hits, 4.5 sacks, two forced fumbles and a pass broken up. He's Kansas City's best linebacker this year.

That production isn't stopping another value projection for Tranquill, however. The No. 82 player on Spielberger's free agent list checks in at less than $4M per year. OverTheCap is slightly more optimistic at $4.9M, although that's still a relative bargain for a versatile and thorough player like Tranquill. If the Chiefs can get him back in the fold for somewhere around that price, it'd be doing a disservice to not make it happen.

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