Chiefs Releasing WR Dwayne Bowe Tomorrow

Update:

ESPN’s Adam Schefter reports that indications are that the Chiefs will release WR Dwayne Bowe this week.

• Ian Rapoport adds Bowe will be released tomorrow.

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Following the news that free agent WR Jeremy Maclin is expected to sign with the Chiefs on Tuesday, Ian Rapoport reports that the Chiefs will be releasing WR Dwayne Bowe.

Given the fact that they’ll have to fit massive contract for Maclin into their salary cap and their current financial situation, it’s hardly surprising that Bowe is the odd-man-out in K.C.

Bowe received a one-game suspension at the start of last year, which will allow the Chiefs to get out of some of the guarantees included in his contract.

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 would 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.