49ers exercise Alex Smith's option

SANTA CLARA, Calif. — Beleaguered quarterback Alex Smith got a vote of confidence Thursday from the San Francisco 49ers, who exercised a multimillion-dollar buyback clause in the former No. 1 draft pick's contract that essentially extends his deal through 2010.

Smith, who floundered through injuries and a prolonged public argument with coach Mike Nolan last season, will compete with former third-stringer Shaun Hill and likely another veteran quarterback in training camp. But general manager Scot McCloughan showed the 49ers' feelings about Smith by overriding the language in Smith's contract that could have allowed him to become a free agent after next season by voiding the final two years of his deal.

"It just shows that we believe in him to be our guy," McCloughan said. "He and Shaun are going to go out there and compete, and the winner of that is going to be a good quarterback for us."

McCloughan declined to say how much the move cost the 49ers, though he said the overall deal was similar to the move made last season by the New York Giants, who bought back two voidable years in quarterback Eli Manning's contract for a reported $5 million bonus.

Smith has started 30 games in his three seasons with San Francisco, passing for 4,679 yards, 19 touchdowns and 31 interceptions while getting sacked 81 times.

His career passer rating is 63.5, but the former Utah star played while injured last season before undergoing surgery on his separated right shoulder in early December. Smith is scheduled to meet with Dr. James Andrews in Birmingham, Ala., next week with hopes of being cleared to resume throwing.