TheFinisher
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NFL.com's Ian Rapoport reported the compensation is a second-round pick in 2013 and possibly a pick in 2014. Glazer's wording suggests that a new contract could be coming for Smith, who was due $7.5 million in the final year of his deal. The Chiefs wouldn't give up this much in the draft for a one-year rental.
http://www.nfl.com/news/story/0ap1000000145687/article/san-francisco-49ers-agree-to-trade-alex-smith-to-chiefs
Rumors are that it's for two 2nds.
:laugh2: