Big Chiefs news: Dwayne Bowe, Branden Albert, Dustin Colquitt sticking around

The Kansas City Chiefs waited until the last minute but then they delivered. The Chiefs have reportedly signed Dwayne Bowe to a five-year contract, slapped the franchise tag on Branden Albert, which will keep him in Kansas City in 2013, and also reached a new contract with Dustin Colquitt. Now what did you do today?

By Joel Thorman@JoelThorman Mar 4, 2013, 3:36pm CST

Dwayne Bowe finally gets paid

Talk about waiting til the last minute. The franchise tag deadline came and went at 3:00 p.m. (Arrowhead Time) and we heard nothing. Then the report came in. Bowe and the Chiefs had agreed to a new five-year deal, the news we've all been waiting to hear for so long now.

More on all the big news List of all Chiefs free agents

This means that Alex Smith will have the top receiver on his side, and not just for one season. We'll wait to judge the contract until we see the numbers but on the surface this makes the Chiefs better. That's why I like it.

Put simply: this move had to happen. The Chiefs HAD to keep Bowe. There was no reasonable way to look at this team without Bowe and think they'd be OK.

Denny Medley-USA TODAY Sports

Chiefs tag Albert; long-term deal still possible

All along we heard the likely scenario was Bowe getting the franchise tag. There was just too much talent at left tackle in both free agency and the draft to pick Albert over Bowe.

Update: Chiefs GM says negotiations will continue with Albert

Of course, that didn't mean the Chiefs didn't want to keep Albert. They clearly did. It was just that when you posed the Bowe vs. Albert question, given the circumstances, Bowe made more sense.

Poll: Who did Chiefs fans want to tag?

Albert will make nearly $10 million on the franchise tag. He and the Chiefs can continue to work towards a long-term deal, and will have until mid-July to do so. This tag does NOT mean Albert can't sign a new deal. He can.

The impact of this move will really be seen in the 2013 NFL Draft. If Albert wasn't retained, the obvious conclusion is that the Chiefs would select Luke Joeckel. But now that Albert is in house ... they can go anywhere. Anywhere! Dee Milliner? In play. Defensive line? Certainly in play.

Chiefs draft talk just got a lot more interesting.

Harry How Getty Images Sport

The Pro Bowl punter gets a new deal

Ah, yes. This move will go under the radar given the importance of Bowe and Albert but it shouldn't be overlooked. Colquitt is a Pro Bowl punter and the Chiefs were able to keep him.

These three players were the Chiefs three best free agents, and they found a way to keep them all.

Kim Klement-USA TODAY Sports