Why Patriots haven't yet traded third pick of 2024 NFL Draft

Much has been made about the New England Patriots possibly trading the third pick of the 2024 NFL Draft instead of using that asset to select a quarterback. 

Patriots reporters Mark Daniels and Karen Guregian of MassLive offered an update on why New England still held overall selection No. 3 as of Tuesday afternoon. 

"According to one source, the Patriots have fielded calls and trade offers for their first-round pick," Daniels and Guregian explained. "However, the source indicated that those offers were 'laughable' and not close to getting the Patriots to move down. As of now, the team is still waiting for a 'serious' offer. A second source stated that he wasn’t sure that such an offer exists or that another team would be willing to put together an unprecedented package to move the Patriots off the No. 3 pick." 

It was reported as recently as Monday that the Minnesota Vikings and New York Giants had been "the most active" teams pursuing the third pick. While it's unknown exactly what Patriots de facto general manager Eliot Wolf would want in return, it was previously said that Wolf is looking for "a lot more than" three first-round selections for this year's third overall choice. 

There's no sign that the Chicago Bears have changed their minds about making USC star Caleb Williams the draft's first pick this Thursday. Whispers about the Washington Commanders possibly passing on LSU quarterback Jayden Daniels at No. 2 have quieted down since this past weekend. As of Tuesday afternoon, DraftKings Sportsbook listed Daniels as the betting favorite at -400 odds to go to Washington via the second pick. 

Such a scenario would leave North Carolina signal-caller Drake Maye and Michigan starter J.J. McCarthy for New England. 

"When it comes to the No. 3 pick, the expectation around the NFL is that the Patriots will stand pat and draft a quarterback," Daniels and Guregian added. "Of course, that plan can change if another team is willing to offer a historic trade package to the Patriots." 

Daniels recently suggested that Wolf could ask for a total of four first-round picks to move from No. 3 to outside of the top 10 in this year's draft order. The Vikings and other teams have roughly 48 hours to make Wolf an offer he can't refuse for the third selection, but he seemingly will happily stay put and end the first round with either Maye or McCarthy if no club matches his asking price for the coveted draft asset.