MIAMI (CBSMiami) – Before Dolphins fans commit hari kari after the team lost out on Peyton Manning and Matt Flynn; the team may try to redeem itself by signing a former Urban Meyer quarterback.

No not that one.

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According to CBS4 news partner the Miami Herald and’s Peter King, the Dolphins are reportedly in negotiations with former number one overall pick Alex Smith about taking over the Fins’ quarterback job. King said Smith is “very serious” about playing for the Fins.

The Dolphins are said to be serious about acquiring Smith, but whether Smith will be serious about coming to Miami in light of all of the reports coming out from Davie about players simply not wanting to play there remains to be seen.

Multiple reports said the San Francisco 49ers have offered Smith a contract in the neighborhood of three-years for $24 million. If Miami is serious about signing Smith, they will likely have to beat that contract by a good amount.

Smith had his best year as a pro during the 2011 season under San Francisco 49ers first-year head coach Jim Harbaugh. He posted a quarterback rating of 90.7 while throwing for 3,144 yards, 17 touchdowns, and five interceptions.

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Smith started all 16 games for the 49ers in 2011 and led the squad to a 13-3 record in the regular season and was 1-1 in the post-season. The former Utah Ute completed roughly 61.3 percent of his passes last season under Harbaugh.

In an up-and-down career, Smith has completed 58 percent of his passes for 12,543 yards, 68 touchdowns, and 58 interceptions. Last season was Smith’s best touchdown to interception ratio of his career.

Last season was also the first year since 2006 that Smith started all 16 games of the season. He’s battled injuries and several benching while playing for the San Francisco 49ers.

Still, with the 49ers losing out on the Peyton Manning sweepstakes, it would be the smart football move to go back to Harbaugh’s offense where he succeeded. Plus, the 49ers are far closer to a Super Bowl than the Miami Dolphins.

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Smith’s expected to make a decision soon. If he chooses the 49ers after being involved in “serious” negotiations with the Dolphins, it will be another slight of a once-proud franchise that has become an also-ran in the NFL.