Veteran WR Dwayne Bowe announced via his Twitter account that he has been released.
— Dwayne Bowe (@DwayneBowe82) March 12, 2015
- Ian Rapoport of NFL Media previously reported that this was the next move for the Chiefs after they signed Jeremy Maclin to a huge contract.
The Patriots and Ravens have both come up as potential landing spots for Bowe in recent days.
Bowe, 30, had another three years remaining on his five-year, $56 million contract that included $26 million guaranteed. He had base salaries of $10.75 million (2015) and $9.75 million (2016-2017) coming his way over the remainder of the agreement.
According to OverTheCap.com, releasing Bowe will free up $5 million in cap space for the Chiefs while creating $9 million in dead money. If they were to designate him as a post-June 1 release, those numbers would improve to $11 million cap savings and $3 million in dead money.
In 2014, Bowe appeared in 15 games for the Chiefs and caught 60 passes for 754 yards receiving and no touchdowns.