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Chiefs' Dwayne Bowe May Sign Franchise Tender?

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We have an interesting NFL draft day rumor about the Kansas City Chiefs. Mike Florio of Pro Football Talk is passing this along as a rumor for now but here's what he says:

A league source tells PFT that there is chatter in league circles that Chiefs receiver Dwayne Bowe is considering signing his franchise tender due to concerns that the Chiefs will use their first-round pick on a receiver, and then strip the franchise tag from Bowe.

Rescinding the franchise tag would make Bowe a free agent at a time when most teams have already spent big money on free agents. His value right now is much lower than it was on, say, March 13, the start of free agency.

I can't say I've personally heard this particular rumor but I have heard a rumor floating around that Bowe was in Kansas City earlier this week, and possibly still is. Again, I'm stressing rumor. To sign the tender, he'd have to be in Kansas City, so take that rumor for what it's worth.

I'm curious why Bowe would think the Chiefs could be using a first round pick on a receiver. The KC Star's Adam Teicher discussed the possibility of selecting a receiver in the draft earlier this week but most think that wouldn't happen in the first round. Receiver seems low on the totem pole of needs.

So where did this rumor come from? I'll just say that the side that is helped the most, if this rumor is accurate, would be the Chiefs. They'd get Bowe to sign his tender, and attend the offseason workouts.

For the record, I'd still be stunned if the Chiefs picked a receiver in the first round.