With nearly two weeks before it can be done, the Alex Smith deal is apparently done.
According to Jay Glazer of FOX, the 49ers “have completed a trade with the Chiefs” for quarterback Alex Smith.
Glazer notes the time lag before it can be official, but said the Chiefs “really made a commitment to Smith.”
The fascinating part will be the compensation, as the 49ers don’t particularly need more draft picks this year (they have 14, including expected compensatory picks). But picks in future years would allow them to further stockpile ammunition, while getting a big salary cap number for a backup off the books.