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Sources: 49ers, QB Alex Smith agree

Updated: March 21, 2012, 11:50 AM ET
ESPN.com news services

Quarterback Alex Smith has agreed to a new three-year deal to stay with the San Francisco 49ers, sources confirmed to ESPN.com senior NFL writer John Clayton.

The Associated Press, citing an unnamed source, reported Wednesday that Smith's contract will pay him $8 million per season with $16.5 million guaranteed. Smith's new deal can pay him up to $33 million if he reaches all of the incentives in the contract.

"Oh, I'm excited," tight end Vernon Davis told The Associated Press in a ...

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