March 21 (Bloomberg) -- Quarterback Alex Smith reached agreement on a new contract with the San Francisco 49ers after Peyton Manning signed with the Denver Broncos, NFL.com reported, citing a person familiar with the negotiations.
The 49ers had given Manning a tryout before the four-time National Football League Most Valuable Player opted to join the Broncos. Smith, a free agent, had visited the Miami Dolphins to discuss a move there, NFL.com said last night.
San Francisco spokesman Bob Lange did not immediately respond to an e-mail seeking comment on the NFL.com report.
Smith, the No. 1 overall pick in the 2005 draft, last season completed 273 passes for 3,144 yards, both career highs, and 17 touchdowns as the 49ers reached the playoffs for the first time since the 2002 season. He threw five interceptions.
Smith, 27, led the 49ers to a 13-3 record in winning the National Football Conference Western Division last season. They lost 20-17 to the New York Giants in overtime in the NFC championship game.
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