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Dwayne Bowe, Chiefs agree to 5-year contract, Branden Albert gets franchise tag, according to report

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Dwayne Bowe and the Kansas City Chiefs have agreed to a five-year contract, according to a report from Adam Schefter. Additionally, Schefter reports Branden Albert has been issued the franchise tag. Oh and Dustin Colquitt has a new deal!

Otto Greule Jr

Take the day off, John Dorsey! What a job! The Kansas City Chiefs have made three major moves right at the franchise tag deadline. Dwayne Bowe has a new five-year deal, Branden Albert has received the franchise tag and Dustin Colquitt has also reached an agreement on a new deal. Three free agents, and they're all taken care of.

We talked about these moves at length over the past few weeks and months, but even this, I think, surpasses what I thought the "best case scenario" would be. The Chiefs keep their two most important free agents -- Bowe on a long-term deal and Albert with the tag -- and the icing on top is Colquitt getting his deal deal.

This also opens the door wiiiiide open with the Chiefs first round pick in the 2013 NFL Draft. They could go with any position. Everything is on the table.

This is outstanding news for the Chiefs.

More updates:

Everything we know about the Chiefs big news

Chiefs GM: Dustin Colquitt is an 'elite punter'

Chiefs GM: 'We will continue to negotiate' with Branden Albert

How does this change the No.1 pick?