The Kansas City Chiefs reached an agreement with Washington to trade quarterback Alex Smith to the Redskins, multiple outlets reported Tuesday night.
Smith and the Redskins then reached an agreement on a four-year contract extension, according to ESPN’s Adam Schefter.
The trade cannot be completed until the new league year begins March 14, and there was no word on the return for the Chiefs, who shed Smith’s salary for the last year of his contract. Smith has a cap number of $20.6 million for 2018, and the Chiefs will save $17 million.
The 33-year-old Smith set career-highs in passing yards (4,042), touchdowns (26) and passer rating (104.7) this past season. He posted a 50-26 record as a starter since arriving in Kansas City in 2013 and has made two straight Pro Bowl appearances.
The trade most likely means the Redskins will let quarterback Kirk Cousins go in free agency, and the Chiefs will hand the reigns to 2017 first-round draft pick Patrick Mahomes.