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Dwayne Bowe expected to be cut or traded by Kansas City Chiefs, per report

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This according to NFL Network's Ian Rapoport.

Mark J. Rebilas-USA TODAY Sports

It appears we are slowly finding our way to the end of the Dwayne Bowe era. NFL Network's Ian Rapoport reports the Kansas City Chiefs plan to cut Dwayne Bowe if they can not find a trade partner for him.

The reason? Bowe is set to have a $14 million cap hit in 2015 after signing a five-year, $56 million deal two years ago. The Chiefs are up against the cap with Justin Houston getting the franchise tag earlier this week. With his big contract, it would be tough to find a trade partner, especially with so many good young receivers coming into the league.

If released (pre-June 1), Bowe's contract would save the Chiefs $5 million in cap space but also include $9 million in dead money. Designating him a post-June 1 cut would spread that cap hit out over two seasons. The Star's Terez Paylor has a nice breakdown of the money here.

We've talked this offseason about whether Bowe would possibly take a pay cut in order to remain in Kansas City. The thinking behind that is that the Chiefs have few options at receiver. Bowe certainly hasn't played up to a $56 million contract but he is still one of the Chiefs best options at receiver -- until they find someone else. Apparently, the Chiefs are set to fill those receiver needs in free agency or the NFL Draft, where they hold the 18th overall pick.

If the Chiefs and Bowe end up parting ways -- I say if because free agency doesn't start until March 10, and things have changed before -- it would continue quite the overhaul of the Chiefs receivers after cutting Donnie Avery and AJ Jenkins already this offseason.