The terms of the deal

This is all unconfirmed but as of now this is what we think we know about the trade details:

Chiefs get: Alex Smith with two years and $16 million remaining on his contract

Chiefs give up: 2013 second round pick (No. 34), 2014 conditional third round pick

The conditions on that pick are reportedly based on how many games the Chiefs win. If the Chiefs surpass whatever number of wins that is, that third round pick turns into a second round pick. So the trade is for a second this year and a third next year or a second this year and a second next year. One of the two.