Use this as your open thread for the press conference, which you can watch at KCChiefs.com.
Updates during the press conference are below....
Here's where the action is taking place (via kcchiefs.com):
John Dorsey starts off talking about Alex Smith.
Dorsey: "We're both very impressed by Alex's accomplishments on the field Alex has obtained over the last few years, but we know we're getting a quality person here."
Dorsey is confident Smith will be part of the Chiefs "for years to come".
Alex Smith: "I'm ready for this."
Smith said he made it clear to the 49ers that he wanted to play, he didn't want to be a backup. The 49ers made it clear they weren't going to release him. Smith says there was "no doubt" in his mind he wanted to be in KC. "Everything pointed here," he said.
Why Kansas City? "These two guys right here. The opportunity to work with coach Reid, from all the quarterbacks I've talked to that have played for him, have only had good things to say ... You look at this team. You look at the pieces in place. You can see the potential. It's just a matter of things going, getting that chemistry and that culture right."
Reid said he knew people who had worked with Smith, and that he has followed him since college.
Reid on Smith: "From a coaching standpoint, what a tremendous addition to a locker room. Obviously a fine football player, but even a better person. That's welcomed here, his leadership is something this team will benefit from and be able to build around."
Reid says Smith has run offenses similar to his in the past. Talks about his efficiency and his winning.
Reid: "Obviously one of the smarter quarterbacks in the league." He said this is important in making checks at the line of scrimmage.
On Matt Cassel, Dorsey says, "Right now Matt is on our roster. As the days go along, we'll see what happens there. But right now he's on our roster."
Reid said Alex Smith is the Chiefs starting quarterback.
Reid said he wasn't worried about Chase Daniel being a popular player from Mizzou.
Dorsey on Cassel: "We'll make those decisions in the next couple of days but right now he's on the roster." Dorsey said Cassel is on vacation.
Reid on Cassel: "We've communicated with him and he understood the situation that was taking place today. It wasn't a secret to him or his representatives."
Smith says he hasn't talked to Dwayne Bowe or others yet.
Alex Smith says he can't comment on the offense yet. He did run similar things but "a lot gets changed over time and everyone makes their own adjustments," Smith says.
Dorsey says he won't talk about the compensation given up in the trade.
Smith says he knew the Chiefs were a team he wanted to be on even before he knew they were an option.
Have you found the next Len Dawson, Andy Reid? "Len Dawson's sitting right here. Len Dawson's in the Hall of Fame. We're going to work on getting Alex in the Hall of Fame. I'm privileged to be in this romo as you are with two great ones. I know Alex appreciates the groundwork Len set for him."
Dorsey on whether the Chiefs could still draft a QB: "You have to be flexible and keep your options available as you go into that process. We'll let the draft board come down and you can never say never."