(Reuters) - The Kansas City Chiefs have agreed on a trade to acquire quarterback Alex Smith from the San Francisco 49ers, according to a report on the National Football League's website on Wednesday.
In exchange for the 28-year-old Smith, the Chiefs will send a second-round draft pick in 2013 to San Francisco and possibly a 2014 draft pick, according to the report.
The trade, first reported by Fox Sports, cannot be officially completed until March 12 when the new league year begins.
Smith, the number one overall pick of the 2005 draft, led the 49ers to the NFC title game in 2012, but lost his starting job in midseason to Colin Kaepernick while he was sidelined with a concussion.
Smith had directed the Niners to a 6-2-1 record with 13 touchdown passes and five interceptions before giving way to Kaepernick, who helped San Francisco reach the Super Bowl, where the 49ers lost to the Baltimore Ravens.
Kansas City went 2-14 last season and ranked last in the NFL in passing yards and in points scored in the 2012 campaign using quarterbacks Matt Cassel and Brady Quinn.
Reporting by Larry Fine in New York; Editing by Frank Pingue