The Chiefs have completed a deal with the San Francisco 49ers for quarterback Alex Smith, FOXSports.com has learned. Multiple reports cite that the 49ers will receive a second-round pick in the 2013 draft, which will be the second selection (No. 34 overall) in the round, and another conditional mid-round pick in 2014.
While the compensation is unclear, the Chiefs have made a significant commitment to Smith as their franchise quarterback.
The trade, which can't officially be made until March 12 when the new league year begins, is the first domino to fall in what is expected to be a very active NFL offseason market.
While this is a steep price to pay for a mediocre QB, it should be an upgrade for the Kansas City offense.