Josh Looney KCChiefs.com first reported the move on the Chiefs live call-in show.
This makes the second trade Chiefs GM Scott Pioli has done with his father-in-law Bill Parcells. The Chiefs acquired two offensive linemen (Andy Alleman and Ikechuku Ndukwe) from the Dolphins in preseason for an undisclosed draft choice.
Early speculation of a fifth rounder makes sense but that's complete speculation at this point.
The timing is right as well. Chris Mortensen of ESPN recently reported that Dolphins QB Chad Pennington was out for the season with a shoulder injury. The Dolphins have Chad Henne (starter) and Pat White (backup) on the roster.
This means that the Chiefs have an open roster spot possibly bringing credence to the speculation that Lance Long will be called up to the active roster.
Check out The Phinsider for what the Dolphins fans are saying about the trade.
Much more coming on this story that's just breaking....
(Thanks to johnnyo_99 for the link)