What trading Joe Milton to the Cowboys means for the Patriots

The Patriots have parted ways with their third-string quarterback.

Exactly three weeks before the start of the 2025 NFL Draft, the New England Patriots have decided to bolster their portfolio through trade. Quarterback Joe Milton, a sixth-round selection last spring, was sent to the Dallas Cowboys as part of a draft pick swap.

The Patriots are getting the 171st pick in the fifth round out of the move, with the Cowboys receiving No. 217 plus Milton. Even though the trade itself does not necessarily qualify as a blockbuster, there are still multiple ways to look at it and how it impacts New England moving forward.

Expected outcome

Trade rumors followed Joe Milton ever since the Patriots’ season finale against the Buffalo Bills; Milton played a good game that day, albeit against backups, showcasing his impressive arm talent and efficiently leading the New England offense to only its fourth win of the year. Three months later, he was indeed traded.

While his market was not exactly lively — Dallas was reportedly the only team to make an offer for the 25-year-old — the Patriots moving on from Milton either this offseason or next was always the expected outcome. The only real uncertainty was the return, even though the third-round draft pick the team was rumored to be looking for always seemed like a pipe dream more than anything.

Draft pick over potential

The Patriots used Milton to improve their draft position on the third day, jumping 46 spots from the top of the seventh to the late fifth round. Looking at that move through the trade charts, including the one of Pats Pulpit’s own Rich Hill, we can see that New England gained the equivalent of a sixth-round selection in the move.

As the charts above show, the Patriots effectively recouped what they spent on Milton last year. They had originally drafted him with the 193rd overall selection out of Tennessee, basically what they got as return from trading him.

What this goes to show is that the team valued that relatively minimal draft pick gain higher than having Milton on the roster. Why that is the case is anybody’s guess outside of One Patriot Place, but it seems apparent that the team was far lower on his eventual developmental outlook than those outside the building.

The Patriots therefore opted for a draft pick over the opportunity to further develop Milton.

Room for new QB3

With Milton no longer part of the equation, the Patriots’ quarterback room is now down to two players. Drake Maye sits atop the depth chart as the undisputed starter, with veteran free agency signing Joshua Dobbs as the No. 2 behind him.

New England could opt to head into the season with those two as its quarterbacks, but it seems likely that more players will be added to the mix between now and training camp. While the Patriots are not expected to draft or sign a passer until late or rookie free agency, the club has shown interest in some prospects who would made sense as candidates to fill the QB3 job or at least serve as camp arms.

According to our Patriots Draft Meetings Tracker, the team has been in contact with QBs Jordan Cloud (Texas State), Seth Morgan (New Hampshire) and Jake Wilcox (Brown) so far during the pre-draft cycle. All three project as undrafted free agents.

Cap space loss

Trading Milton to the Cowboys did generate more draft capital value for the Patriots, but it did not result in more salary cap space. Why? Because Milton was not on the team’s Top 51 list, meaning he did not count against the cap at this point in the offseason.

However, with his remaining signing bonus now hitting New England’s books all at once rather than being prorated over the length of the deal, the Patriots are actually losing cap space due to the move. A total of $91,658 will be deducted from their salary cap.

What trading Milton does, though, is creating salary cap space in both 2026 ($1.12M) and 2027 ($1.24M), as explained by Miguel Benzan.

First 2024 draft pick gone

The Patriots selected eight players in the 2024 NFL Draft, and every one of them played at least a handful of snaps during the season. Their outlooks heading into 2025 may vary, but as of Thursday all of them at least remained in a position to compete for spots on the team — all but one: Milton is the first member of the class leaving New England.