The franchise tag number for wide receivers this year is $9.5 million.
The 27-year-old Bowe had another good season despite a revolving door of quarterbacks in Kansas City last season, catching 81 passes for 1,159 yards and five touchdowns.
It was his third 1,000-yard season, and he has caught at least 70 passes in four of his five NFL seasons. He led the NFL in 2010 with 15 touchdown receptions and has 36 TD catches in his career.
One NFL general manager estimated that, with the cost of the franchise tags decreasing because of the new collective bargaining agreement, as many as 25 tags could be used to restrict player movement this offseason.
The franchise tag used to be based on the average of the top five salaries at that position from last season. In the new CBA, it's based on the average of the top five salaries at that position from the previous five seasons.
Adam Schefter is ESPN's NFL Insider. Information from The Associated Press was used in this report.