From NFL.com
The Kansas City Chiefs made sure that wide receiver Dwayne Bowe wasn't going anywhere. And they didn't have to use the franchise tag.
Albert Breer of NFL.com reported, via a source involved in the deal, that Bowe and the Chiefs reached a new five-year contract on Monday. ESPN first reported the news.
The regime change in Kansas City ultimately helped keep Bowe in town. Signing Bowe long-term also allowed the Chiefs to use the franchise tag on Branden Albert, a move NFL.com's Ian Rapoport reported shortly after the Bowe news. The Chiefs also reached an agreement with punter Dustin Colquitt.
New coach Andy Reid and general manager John Dorsey made it clear they were fans of Bowe and did not want to lose him. Kansas City boasts a solid group of skill position talent with Bowe, wide receiver Jon Baldwin, running back Jamaal Charles, and Tony Moeaki to pair with incoming quarterback Alex Smith.
Financial terms still are unclear, but it's safe to say Bowe will be one of the highest paid wide receivers in the NFL. Keeping Bowe is another sign that Reid doesn't see this Chiefs job as some great rebuilding project. The Chiefs look like a team that wants to compete in 2013. To do so, they keep one of the best free agents off the market.