Reports: Chiefs trade QB Alex Smith to Washington

The Kansas City Chiefs have reached an agreement to trade quarterback Alex Smith to the Washington Redskins, according to multiple media reports.

While the two teams reportedly reached an agreement Tuesday night, the deal cannot be made official until the new league year begins March 14.

According to ESPN, Washington is sending a third-round draft pick and cornerback Kendall Fuller to Kansas City in the trade.

ESPN’s Adam Schefter and Chris Mortensen reported that Smith, 33, has agreed to a four-year extension with the Redskins that will pay him an average of $23.5 million per year with $71 million in guaranteed money.

Smith posted a 50-26 record as a starter for Kansas City since 2013 and was named to the Pro Bowl the past two seasons. He set career highs this season in passing yards (4,042), touchdowns (26) and passer rating (104.7).

The Chiefs topped the AFC West standings this past season with a 10-6 record, but were knocked out the playoffs in the wild-card round when the Tennessee Titans rallied from down 21-3 at halftime at Arrowhead Stadium to win the game 22-21.

The trade most likely means new starting quarterbacks for three teams, with the Chiefs likely to turn to last year’s 10th overall pick Patrick Mahomes and Smith taking over for Kirk Cousins in Washington.

The 29-year-old Cousins, who became the first quarterback to play back-to-back seasons on the franchise tag, will become a free agent next month and will be highly sought by several teams looking for a new starting QB.