The 49ers have agreed to trade quarterback Trey Lance to the Dallas Cowboys for a fourth-round draft pick, a source confirmed to NBC Sports Bay Area's Matt Maiocco on Friday.
Stay in the game with the latest updates on your beloved Bay Area and California sports teams! Sign up here for our All Access Daily newsletter.
ESPN's Adam Schefter was first to report news of the 49ers' Lance trade and compensation.
The 49ers trading Lance comes two days after they named Sam Darnold as the backup quarterback behind starter Brock Purdy, relegating the 2021 No. 3 overall draft pick to third-string quarterback.
Now Lance gets a fresh start in Dallas, though his path to playing time there is just as unclear as it was in San Francisco. Dak Prescott is entrenched as the Cowboys' starter, with Cooper Rush and Will Grier backing him up.
The trade brings to an end Lance's turbulent 49ers tenure. General manager John Lynch and coach Kyle Shanahan traded three first-round draft picks and a 2022 third-round draft pick to the Miami Dolphins to move up to select Lance.
San Francisco 49ers
But with Jimmy Garoppolo set as the 49ers' starter, Lance barely played as a rookie, appearing in just six games and throwing just 71 pass attempts.
Shanahan gave Lance the keys to the car last season, naming him the starter ahead of Garoppolo. But a season-ending ankle injury in Week 2 derailed the North Dakota State product's best shot with the 49ers. After Garoppolo suffered his own season-ending injury, Purdy took over and hasn't let go of the QB1 job.
Moving Lance for a draft pick clears up $6.25 million in cap space for the 49ers over the next two seasons.
The 49ers' handling of the Lance situation has been heavily criticized over the last few days, and now they've wiped their hands of the situation, proceeding with Purdy, Darnold and veteran Brandon Allen as their three quarterbacks entering the 2023 NFL season.
It's unclear how quickly Lance will get to Dallas, but if he arrives in time for their preseason finale Saturday, he would be in the building with Garoppolo, now the Las Vegas Raiders' starting quarterback.
The 49ers host the Cowboys on "Sunday Night Football" on NBC in Week 5, but barring several injuries, it's unlikely Lance will see the field that night. All eyes will be on the quarterback that night, however, as he reunites with old teammates.