KANSAS CITY, Mo. — The Chiefs are releasing wide receiver Márquez Valdés-Scantling, saving the team $12 million against its salary cap, a source told ESPN's Jeremy Fowler on Wednesday.
The move comes after the Chiefs informed cornerback L'Jarius Sneed that they are prepared to use the franchise tag on him and are open to consummating a trade if a long-term deal is not reached, a source told Fowler on Tuesday.
The Chiefs are expected to use the non-exclusive franchise tag, which would cost about $19 million for the 2024 season.
On Tuesday, Chiefs general manager Brett Veach said at the scouting combine in Indianapolis that he was prepared to use the franchise tag on Sneed or star defensive tackle Chris Jones if the team can't get both back. sign before the start of free agency. next month.
Valdés-Scantling played two seasons with the Chiefs after signing as a free agent from the Green Bay Packers. He caught 42 passes in 2022 and 21 last season, but often had his biggest moments in the playoffs.
He caught eight passes for 116 yards and a touchdown in the AFC Championship Game victory over the Cincinnati Bengals following the 2022 season.
Last season he caught a pass to secure the Chiefs' AFC Championship Game victory over the Baltimore Ravens and scored the Chiefs' first touchdown in their Super Bowl LVIII victory over the San Francisco 49ers.
Valdés-Scantling was fifth in receptions for the Chiefs in the 2023 regular season. Rookie Rashee Rice was his leader at the position with 79 receptions.
