According to ESPN:
Kansas City will trade its second-round pick in the 2013 draft — the second selection (No. 34 overall) in the round — as well as another conditional mid-round pick in 2014 to acquire Smith from San Francisco, a league source told ESPN.
As a result of the trade, the Chiefs are expected to release former starting quarterback Matt Cassel, league sources told ESPN. Cassel has two years remaining on a $63 million, six-year deal he signed with Kansas City after he was acquired in a trade from the Patriots in 2009. He failed to live up to the lofty contract, however, and was benched during the 2012 season.
At this point, Smith will play under terms of his remaining contract, which calls for a guaranteed base salary of $8.5 million in 2013. There has been no discussions between the Chiefs and Smith’s representatives about negotiating a new contract.
49ers left tackle Joe Staley, one of Smith’s closest friends on the team, said in a text to ESPN NFL Insider Ed Werder that he was happy the quarterback will get a chance to play with his trade to Kansas City.
“I am happy he is going to get a shot to play somewhere. He is too talented not to. Will miss him on our squad but will still be close wherever he goes. Happy for his new opportunity,” he wrote in the text.
The trade can’t be officially completed until March 12 when the 2013 league year begins. you can read the full story here
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