As previously reported by every major news outlet, the San Francisco 49ers have sent "backup quarterback" Alex Smith to the Kansas City Chiefs in exchange for a package that included the 34th overall pick in the '13 NFL Draft and a conditional pick next April.
With one of the only true starter-caliber quarterbacks off the market, what are teams in need of a quarterback going to do? Will they decide to reach on a marginal prospect in the draft? What about attempting to strike it rich with the likes of Matt Flynn or Ryan Mallett? Are Matt Moore and Brandon Weeden viable options? Is the latter even available via trade less than a year after he was selected by the Cleveland Browns in the first-round of the '12 draft?
Yes, there are more questions than answers.
Does the Alex Smith Trade Set the Market?
Short form answer to this question is an emphatic NO! While San Francisco didn't receive the same bounty in return for Smith as the Cincinnati Bengals acquired from the Oakland Raiders for Carson Palmer back in '11, a second and third for someone of that caliber is pretty darn impressive. No quarterback on the trade maket will bring that type of bounty in return. Ryan Mallett has all the tools, but the Kevin Kolb and Matt Cassel mistakes from the past will make some teams a bit gunshy. In addition, Matt Flynn falls in nearly the same category.
Free Agent Market
Outside of the New York (LOL) Jets, most teams in the market for a quarterback are not going to look to go out there and acquire a combination of players such as: Brady Quinn and David Garrard. If a specific veteran is not an upgrade over what a team currently has, it makes no sense to go replacement the incumbent.
Matt Moore is drawing a tremendous amount of interest. While we are not sure whether that is as a starter or a backup, it goes to show you that the free agent market as it relates to the quarterback position is beyond weak. Jason Campbell is the only other decent stop-gap quarterback option here.
That being said, the likes of Matt Cassel and Kevin Kolb could easily find themselves on the free-agent market when all is said and done. If so, both represent the best options for a team looking to find a one-year starter.
Trade Block
With Smith off the market, Matt Flynn quickly becomes a hot commodity. Recent reports from the Pacific Northwest suggest that the Seattle Seahawks may not trade the backup, but that seems more like Pete Carroll and company puclic posturing than anything else. If Smith can net a two likely second-round picks, I am pretty sure Flynn could bring the 'Hawks a third. If so, they should jump on it.
Another intriguing option here is Ryan Mallett, who has been on and off the invisible trade block since the end of the playoffs. With Tom Brady signing a three-year extension to play with the Patriots until he turns 40, they really have no reason to keep Mallett. In addition, New England only have five picks in the '13 draft. Both of these are indicators that Mallett may in fact be traded.
Another name placed on the trade block is Cleveland Browns' 2012 first-round pick Brandon Weeden, who doesn't appear to be in their long-term plans. Even at his advanced age (for a second-year player), Weeden should draw a bit of interest as a back-up option.