Dustin Colquitt's Kansas City Chiefs contract worth $18.75M

Punter Dustin Colquitt was one of three players locked up by the Kansas City Chiefs Monday, signing a five-year worth $18.75 million, a source who has seen the deal told NFL.com's Ian Rapoport.

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The Chiefs also signed wide receiver Dwayne Bowe to a five-year contract and assigned the franchise tag to offensive tackle Branden Albert.

Colquitt's deal, which makes him the highest-paid punter in the NFL, comes with $8.9 million guaranteed, Rapoport reported.

The decision to franchise Albert was made easier by reaching deals with Bowe and Colquitt.

Colquitt made his first Pro Bowl last season after averaging 46.8 yards per punt.

The Associated Press contributed to this report