Dwayne Bowe's contract: 5 years, $56 million

I wrote this morning that I was confused as to why the details of Dwayne Bowe's new contract with the Kansas City Chiefs weren't out yet. Well now they are. The details: five years, $56 million with a reported $26 million in guarantees.

By Joel Thorman@JoelThorman Mar 5, 2013, 8:59am CST

We were waiting on the Dwayne Bowe contract details and here they are:

Dwayne Bowe's 5 yr deal with KC is worth $56M with $26M guaranteed. He gets $11M per year. We'll see if Wallace and Jennings can do the same
— Jason La Canfora (@JasonLaCanfora) March 5, 2013

In the end, Vincent Jackson money is what it was. Jackson signed a near-identical contract, at least based on the initial numbers: five years, $55 million and also with $26 million guaranteed.

D-Bowe's new deal: Everything we know Complete Red Monday coverage

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.

The devil, as it always is with these contracts, is in the details. NFL contracts are not guaranteed so these numbers that you see floated out initially don't always mean much. It's all about how the deal is structured.

How does this affect the salary cap? We won't know until we see how the deal is structured and what his first year payout is.

Update: More details