Free agency has been relatively quiet on the Patriots' front, besides the first blockbuster day when they signed the likes of CB Carlton Davis and DT Milton Williams. It's been even slower on the trade front for New England, too, since they don't have many players that teams around the league would be inquiring about via trade.
The only player who has reportedly piqued some interest lately is second-year quarterback Joe Milton III, whom the Patriots are considering trading this offseason for draft capital. They are reportedly seeking a third-round pick to facilitate a deal, which has deterred any potential trade partners from making a call.
However, there might be a way to make a deal happen that doesn't require a valued pick to be sent New England's way. Instead, they can add some draft capital while also addressing a long-term need on the offense, which would be a significant help heading into the draft, especially after the potentially devastating update from the Giants.
Latest proposed trade for Joe Milton III might be too good for the Patriots not to call about
Besides the recent reports that the Cowboys are a possible team inquiring about Milton, there are others who could be added to the list. That's an avenue that longtime Patriots reporter Dakota Randall explored in a new proposed trade, and it's hard to imagine either team not being interested in pursuing this deal.
Randall has the Saints getting on the phone about trading for Milton, as they have a shaky quarterback room with Derek Carr and Spencer Rattler. Because neither appears to be the future of the franchise, New Orleans could view the potential Milton has shown as worthy enough of making a trade happen, and throw in a young wide receiver looking for a payday soon.
"With uncertainty surrounding both players, and the Saints already connected to Milton in one significant report, it's worth exploring a deal involving the two. An Olave-Milton trade could take many forms, but here's one we came up with:
Patriots get: WR Chris Olave, 2025 sixth-round pick (184)
Saints get: QB Joe Milton III, 2025 third-round pick (69), 2025 fifth-round pick (144)"
The Patriots sending a third-round pick this year might seem like a big deal, but they have two third-round picks due to the selection they received in return for trading Matthew Judon to the Falcons last offseason. Therefore, sending one away should not be a significant issue.
A fifth-round pick isn't a big deal, either, especially when the Patriots receive an impressive wide receiver like Chris Olave in return. In fact, there is probably an argument to be made that the Patriots aren't sending New Orleans enough, and increasing the return to a second and third-round pick might be better.
The 24-year-old has already established himself as a WR1 for the Saints, recording 191 receptions for 2,565 yards and ten touchdowns in three seasons. He dealt with an injury in 2024 that kept him sidelined for half the year, but his track record and athleticism would be a significant upgrade for the Patriots' receiving corps, which desperately needs a player of his caliber.
Olave is entering the fourth year of his rookie contract, and the team will need to decide whether to exercise his fifth-year option soon. On top of that, they'll be on the hook for a massive payday sooner rather than later, especially with the wide receiver market consistently changing with new contracts this offseason.
If they deem Olave isn't worth it or prefer to prioritize upgrading other positions, such as quarterback, it would be an easy decision to trade with New England for a promising young quarterback with a strong arm. That allows the Patriots to be in a better position going into the draft, with an increasing chance that a player like CB/WR Travis Hunter will be off the board by pick No. 4.
It also allows them to add another weapon to the offense for Maye to work with after signing Stefon Diggs to a 3-year deal. At 31 years old, he's not the long-term answer at receiver, so trading for Olave with a long career ahead of him would put the Patriots in the best position possible moving forward.