Report: Alex Smith's deal worth up to $33 million

Quarterback Alex Smith and the San Francisco 49ers have agreed to terms on a three-year contract that will pay him $8 million per season with $16.5 million guaranteed, a person with knowledge of the negotiations said Wednesday.

The person spoke on condition of anonymity because no announcement had been made. Smith was expected to sign within the day. Smith’s new deal, which was all but done late Tuesday, can pay him up to $33 million.