The New England Patriots have signed restricted free agent Malcolm Butler to a first-round tender, though he could still be on the move, per Field Yates of ESPN. However, it does open the avenue of exploring a trade, and the Saints have been openly interested in acquiring Butler in that fashion.
(It's possible they trade him after the draft in a player-for-player swap or for 2018 picks, but that scenario seems unlikely).
Now that the tender has been signed, the Patriots can negotiate a potential trade with other teams.
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They even hosted him for a visit, but Sean Payton made it clear that they wouldn't sign Butler as a free agent because they didn't want to give up their first-round pick to the Patriots. He was named a Pro Bowler in 2015 and has helped win two of the last three Super Bowl titles, famously grabbing the game-sealing interception in Super Bowl XLIX.
In short, Butler to the Saints in 2017 is probably not going to happen.
The question now becomes whether a team like the New Orleans Saints, who just traded Brandin Cooks to New England, could make a play for the veteran corner and whether or not the Patriots, who have claimed they don't have interest in trading him, will listen to (or act on) any serious trade offers.
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