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Updated Feb 27, 2013 12:41 PM ET
The Kansas City Chiefs have pulled off the offseason’s first blockbuster trade.
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.
In 2005, San Francisco selected Smith as the No. 1 overall pick. Although he didn’t have immediate success, Smith has been able to rebrand himself over the last two seasons under head coach Jim Harbaugh.
Until Smith was shelved due to injury, he led the league with a 70 percent completion rating and was efficient in Greg Roman’s offensive schemes. He could prove to be the steady hand that new Chiefs head coach Andy Reid needs to pilot his West Coast offense.
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