Report: 49ers, Chiefs have deal in place for Smith
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Programming note: Log on to our live stream page today beginning at 12:30 p.m. for news and reaction following Alex Smith’s reported trade to Kansas City

Shortly after the trade period begins on March 12, quarterback Alex Smith's eight-year run in San Francisco will come to an end.

There were multiple reports Wednesday morning that a deal is in place to send Smith to the Kansas City Chiefs for multiple draft picks. Of course, with two weeks to go before a deal can become official, one source told CSNBayArea.com that any report of a completed trade is “premature.”

[REWIND: Alex Smith saga will continue until at least March 12]

What is known is that the Chiefs and 49ers have discussed compensation, and the Chiefs offer is solid enough to get a deal done. Smith is scheduled to make $8.5 million next season, a salary the 49ers seem unlikely to pay for a backup player.

The compensation, as it now stands, is a second-round pick in the upcoming draft and a conditional selection in 2014 that could be as high as another second-round selection, as first reported by Tim Kawakami of the Bay Area News Group. Kansas City owns the second pick of the second round, No. 34 overall.

Smith, the No. 1 overall pick of the 49ers in 2005, enjoyed his best seasons with the club the past two years. In 2011, he completed 61.4 percent of his passes with 17 touchdowns and five interceptions, as the 49ers won the NFC West with a 13-3 record before losing in the NFC Championship Game to the New York Giants.

Smith completed a career-best 70.2 percent of his pass attempts with 13 touchdowns and five interceptions last season before he exited the lineup with a concussion. Smith never regained his job, as Colin Kaepernick replaced him as the starting quarterback.