Dwayne Bowe signs 5-year, $56 million contract with Chiefs

John Rieger-US PRESSWIRE

Bowe will earn a guaranteed $26 million.

Dwayne Bowe is now a top-five receiver in the NFL -- at least when it comes to his salary.

Bowe's new deal with the Kansas City Chiefs is for $56 million over five years, according to CBS Sports' Jason La Canfora. A total of $26 million is guaranteed and he'll make, on average, $11 million per season.

His signing bonus is $15 million, according to NFL.com's Ian Rapoport. He'll make $36 million over the first three seasons.

This makes the market interesting for the remaining wide receivers on the market, like Greg Jennings, Mike Wallace, Percy Harvin and Wes Welker.

Bowe's new contract puts him into elite contract status. His $26 million guaranteed is in the top five in the league for wide receivers, right with Vincent Jackson -- who was also guaranteed $26 million when he signed with the Tampa Bay Buccaneers. Jackson signed a five-year, $55.55 million deal before the 2012 season.

Detroit's Calvin Johnson ($48.75 million guaranteed), Houston's Andre Johnson ($48 million) and Arizona's Larry Fitzgerald ($27 million) are the only receivers with more guaranteed money.

SB Nation's Arrowhead Pride says it's a "really big" contract for Bowe:

If you didn't know, that's a huge contract. Really big. On the average per year, that ranks Bowe third in the NFL behind Calvin Johnson and Larry Fitzgerald, and just ahead of Vincent Jackson. Scott Pioli said on SiriusXM NFL Radio last week that he thought Bowe should be paid as a top 10 receiver, not as a top five receiver. Clearly, the new regime disagrees.

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