Per Eric Branch:

"Tuesday, Washington traded for Kansas City’s Alex Smith and the two parties reportedly have agreed to a four-year, $94 million contract extension in principle that include $71 million in guarantees. The trade and contract can’t be finalized until the start of the league year March 14.

What that means for the 49ers: Jimmy Garoppolo’s asking price probably increased."

More on this >>  https://www.sfgate.com/49ers/article/What-the-Alex-Smith-trade-could-mean-for-49ers-12538752.php