Breaking: Chiefs to release Marquez Valdes-Scantling, move reportedly saves Kansas City $12 million

The Super Bowl champion Kansas City Chiefs have shifted from celebration mode to offseason mode, and Brett Veach has some big decisions to make in the coming months.

The Chiefs reportedly made a money-saving transaction this week, as they plan to release wide receiver Marquez Valdes-Scantling to save $12 million on the cap, per ESPN.

Before this move, the Chiefs had $28.15 million in cap space, per Over The Cap, which ranked No. 17 in the league.

Kansas City has some big-name free agents, such as star defensive tackle Chris Jones and cornerback L'Jarius Sneed.

Tuesday, it was reported that the Chiefs are prepared to place the franchise tag on Sneed if they can't agree to a new deal, and that both sides could be open to a trade as well.

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