Dwayne Bowe expected to be released by Chiefs this week, per report

NFL Network's Ian Rapoport reported last week that Kansas City Chiefs WR Dwayne Bowe was expected to be cut or traded. Now he's put a date on it.

The #Chiefs are expected to release WR Dwayne Bowe tomorrow, source said.

— Ian Rapoport (@RapSheet) March 10, 2015

ESPN's Adam Schefter has it as likely this week.

Indications point to Chiefs releasing WR Dwayne Bowe this week.

— Adam Schefter (@AdamSchefter) March 10, 2015

The Chiefs will save $5 million against the cap if Bowe is cut. The Chiefs could save $11 million against the cap if he's designated a post-June 1 cut but there would also be future cap charges. And the Chiefs wouldn't get that space until after June 1.The Chiefs will have the cap space to carry Bowe's cap number into the new league year, which starts at 3 p.m. this afternoon.

The stats say the former 2007 first round pick will go down as the Chiefs second leading receiver of all time behind Otis Taylor. This is a big deal but one that the Chiefs are prepared for after giving Jeremy Maclin basically the same contract that they gave Bowe in 2013.

The Chiefs receiver overhaul continues with the subtraction of Bowe and addition of Maclin. Albert Wilson and De'Anthony Thomas figure in there and I wouldn't be surprised to see the Chiefs pick up a receiver (two?) in the draft.

I suspect Bowe will have some interest on the open market. With the right system I could see him being a productive receiver but I wouldn't expect him to repeat his 15-touchdown 2010 season. A good No. 2 receiver for a team needing the help. Is that too optimistic?