On Wednesday, Saints HC Sean Payton told reporters that they won’t sign restricted free agent CB Malcolm Butler to an offer sheet and will instead only consider a trade for him, per Nick Underhill.
Payton added that the situation with Butler is still ongoing and could some time for something to happen, per Larry Holder.
Signing Butler to an offer sheet would cost the Saints their No. 11 overall pick, which is why a trade seems much more likely if a deal is to get done.
Last we heard regarding the Saints and Butler, Ian Rapoport reported that two parties have “mutual interest” in a long-term deal.