The Chiefs reached a reached a new five-year contract on Monday. Bowe’s deal is for $56 million over five years and includes $26 million in guaranteed money.

This was a good decision for the Chiefs. Andy Reid knows that in order to turn the team around, he will need a #1 receiver to help Alex Smith.  It will be interesting to see what other moves the Chiefs make to compete with the Denver Broncos and the rest of the AFC West.

Winning the Super Bowl in a contract year gives you a lot of leverage and Joe Flacco used it wisely. NFL.com’s Albert Breer reported Sunday night that Flacco’s six-year contract with the Baltimore Ravens is worth $120.6 million, according to two sources who have seen the contract.

Albert Breer pointed out on Monday’s “NFL AM,” Flacco’s deal “in essence” is for three years. That’s because he’s due $29 million in the fourth year, which “will not be workable” unless the salary cap explodes once money from national television contracts kick in. Breer added that Flacco’s 2013 salary cap number is less than half of New England Patriots quarterback Tom Brady’s. “He certainly did the Ravens a favor,” Breer said on “NFL AM.”

Here’s a breakdown of Flacco’s new contract, the richest in NFL history:

» $29 million cap number in Year 4

» $30 million in Year 1

» $51 million through Year 2

» $62 million through Year 3

» $80 million through Year 4

» $100.6 million through Year 5

Of course like the other top QBs in the league Flacco will have to restructure so the team can stay competitive for a couple of years but that won’t be this year. Flacco made all his doubters believers this season and get the contract he deserved.