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Take it with a grain of salt, but the New England Patriots want a second round pick if they're going to trade Ryan Mallett, according to Ian Rapoport of NFL Network. Rapoport didn't spill any further details, but it would make sense if Mallett was on the block since Tom Brady is signed through the 2017 season, and Mallett's contract expires after this year.
Houston, Jacksonville, Cleveland, Oakland, Minnesota are just a handful of teams that could be in the market for a player like Ryan Mallett. There are plenty of quality quarterbacks available in this year's NFL Draft, but a team may prefer to spend a player like Mallett, considering he has spent years learning from one of the greatest quarterbacks of all time.
Personally, I'd be on board with trading him for even a third rounder. I think Mallett can be a quality starter, but he hasn't progressed enough over the years for me to feel confident in saying that. Any team trading for him would be taking a risk, no differently than they would with a younger draft pick.