ESPN's Mike Reiss breaks down the pre-draft Butler situation:
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2. As for Butler’s immediate future with the team, here is my read on the situation: If he’s going to be traded, this is the week for it to happen, and it will essentially come down to whether the Saints are willing to trade their late first-round pick (32) or a different package of a high second-rounder (42) combined with another pick (Saints have 76, 103, 196, 229), with the chance of possibly picking up a later-round selection in that scenario. The value will have to be there for the Patriots, who I don’t sense have any qualms about having Butler back on his $3.91 million restricted free-agent tender. Keeping Butler in the short-term isn’t the issue; it’s that the sides see things differently on a potential long-term deal, and that’s the only reason a trade possibility has been considered, similar to Chandler Jones last year.
http://www.espn.com/blog/new-england-patriots/post/_/id/4802737/how-malcolm-butlers-mother-almost-missed-his-super-bowl-saving-int