(Reuters) - The Kansas City Chiefs have reached an agreement to trade their starting quarterback Alex Smith to the Washington Redskins, the NFL said on its website on Tuesday.
The Redskins were expected to send a 2018 third-round pick and a player to be named later in exchange for the 33-year-old, who has led Kansas City for the past five years.
The trade, which cannot be completed until the new NFL business year begins on March 14, would see Smith sign a four-year deal with Washington for $94 million, with $71 million guaranteed, the Kansas City Star reported.
The move likely spells the end of free agent Kirk Cousins' time in Washington while the Chiefs can now turn to 2017 first-round pick Patrick Mahomes.
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Kansas City traded up to select Mahomes with the 10th overall pick in April.
Smith is coming off a season when he had 4,042 yards, 26 touchdowns and led the NFL with a passer rating of 104.7.
The Chiefs' season ended with a wild card playoff loss to the Tennessee Titans.
(Writing by Jahmal Corner in Los Angeles; Editing by Peter Rutherford)