The Washington Redskins have their franchise quarterback.
According to ESPN's Adam Schefter, the Redskins and Alex Smith agreed to terms on a four-year contract extension Tuesday shortly after the Kansas City Chiefs agreed to ship the seasoned signal-caller to the nation's capital.
Smith, who had one year remaining on his deal, will now be locked up for the next five seasons.
Financial details were not immediately disclosed.
The Kansas City Star's Terez A. Paylor first reported the Chiefs and Redskins had struck a deal.