San Francisco 49ers quarterback Alex Smith (11) passes against the Denver Broncos during the second quarter of an NFL preseason football game in Denver, Sunday, Aug. 26, 2012. (AP Photo/Jack Dempsey)

FILE -- San Francisco 49ers quarterback Alex Smith (11) passes against the Denver Broncos during the second quarter of an NFL preseason football game in Denver, Sunday, Aug. 26, 2012. (AP Photo/Jack Dempsey)

The San Francisco 49ers have a deal in place to trade quarterback Alex Smith, according to multiple reports.

There is speculation that the Kansas City Chiefs are the other team in this deal. The Chiefs desperately need a quarterback and the Niners aren't likely to pay Smith $8.5 million to be Colin Kaepernick's backup.

Smith can't be traded until March 12, but sources say a deal is "effectively complete" with an unidentified team.

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alex smith, colin kaepernick, san francisco 49ers, nfl
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