Bowe's representatives reportedly have met with the team, and talks are expected to continue in the following weeks.
Bowe missed the final three games of the season after being placed on injured reserve with a rib injury, and finished with 59 catches for 801 yards and three of the Chiefs' eight TD grabs this season.
He played this past season on a $9.5 million deal as the team's franchise player, and it's possible the two sides could agree on a new deal or the Chiefs could franchise him again.
Bowe wasn't happy about getting the tag last season, though. He refused to sign his tender until well into training camp, forcing him to play catch-up at the start of the year.
He had his best season in 2010, when he was voted to the Pro Bowl after catching 72 passes for 1,162 yards and a league-high 15 touchdowns. He had 59 catches for 801 yards last season, and has caught 415 passes for 5,728 yards and 39 touchdowns in his six-year career.