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 The Niners have traded quarterback Trey Lance to the Cowboys in exchange for a fourth-round pick.

According to NFL Network Insider Ian Rapoport, the San Francisco 49ers have traded quarterback Trey Lance to the Dallas Cowboys.

According to NFL Network Insider Tom Pelissero, the 49ers will receive a fourth-round selection in 2024 in exchange for Lance.

The Niners announced earlier this week that Lance would be the team's No. 3 quarterback on the depth chart behind Brock Purdy and Sam Darnold after the latter won the competition for the backup role after trading three first-round picks to Miami to move up to No. 3 overall in the 2021 NFL Draft.

"Really hard day, such a wonderful young man," 49ers general manager John Lynch said Friday night during the broadcast of San Francisco's preseason game. "We took a chance, and it didn't work out." That is entirely our fault. We accept responsibility for it. But, as I believe you do, his tale remains mostly unwritten. I'm excited for Trey. Dallas took the initiative, and they pursued him. And I believe it will be a good landing point for him. I can assure you that it was not due to a lack of effort on Trey's or our part. Circumstances took hold, and he fought through injuries, but this club is poised to win.

We enjoy having a quarterback room. We really like Brock Purdy, Sam Darnold, and Brandon Allen. So we wish Trey the best of luck in Dallas. We will always be concerned about that young man and appreciate his work ethic and character."

After the news, head coach Kyle Shanahan stated that he still hoped the young quarterback may find success "with us or someone else in the future." Shanahan stated on Friday that Lance wanted to be a No. 2 somewhere else, and the Niners got more interest than they expected.

"He told us that he would like another opportunity to go somewhere where he had a chance to be the No. 2," Shanahan said after the game on Friday. "We thought we got some good deals for him because there were several teams involved." Getting the fourth was a bit better than we expected, clearing up a lot of money and allowing a better scenario for him."

Lance appeared in the fewest games by a top-five choice for the team with which he began since the beginning of the common draft period in 1967, according to NFL Research.

Lance will now begin a new chapter in Dallas.

By sending the guy who was intended to represent the franchise's future to Dallas, San Francisco will only recoup a fraction of the value it transferred to Miami.

Lance's opportunities to start with the Niners were limited, owing in part to injury. He injured his finger and hurt his knee in his first season, and then broke his ankle just two games into the 2022 season, forcing him to miss the rest of the season and setting the stage for current starter Purdy to take over.

Lance, who was initially scheduled to play in the Niners' preseason finale against the Los Angeles Chargers, is 2-2 as a starter, finishing with 797 passing yards, five touchdowns, and three interceptions.

With a new home secured, the issue now is how Lance will fit into the Cowboys' current depth chart. In Dallas, Dak Prescott remains the starter, with backup Cooper Rush and Will Grier behind him. According to Rapoport, Lance is anticipated to be the team's third-string quarterback, with the potential to become more. Lance, who is still just 23 years old, has a new club that is betting on his developing into something extraordinary, as was first promised.

According to Rapoport, he will be paid $6.25 million in fully guaranteed money over the following two seasons, with a fifth-year option still available to the Cowboys if the occasion arises.