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Malcolm Butler is no longer a free agent, but that doesn't mean he'll be playing for the Patriots this season.

As first reported by Field Yates of ESPN, Butler signed his free-agent tender Tuesday. Shortly after, Jeff Howe of the Boston Herald pointed out that the move showed on the transaction wire. So, it appears to be official.

But as Yates pointed out, a trade is still entirely possible. In fact, Butler had to sign his $3.91 million tender before he could be traded.

The Saints have shown considerable interest in Butler, who reportedly wants a lucrative long-term contract. They even hosted him for a visit, but Sean Payton made it clear that they wouldn't sign Butler as a free agent because they didn't want to give up their first-round pick to the Patriots. 

"We had a chance to visit with him," Payton said, according to the Times-Picayune. "Currently, to my understanding, he hasn't signed his tender. It was just that. We can sign him to an offer sheet, but I don't think we're going to do that and give up the 11 pick.

"In fact, I know we're not going to do that. It's kind of it what it is right now."

But that doesn't mean the Saints aren't still interested in him. Now that Butler has signed his tender and is no longer a free agent, the Patriots can trade him to the Saints. Of course, the Saints and Patriots already worked out one blockbuster trade earlier this offseason when the Patriots acquired Brandin Cooks.

Plus, Butler reportedly isn't opposed to the idea of playing for the Saints.

In 2016, Butler intercepted four passes and finished as Pro Football Focus' fifth-best cornerback, allowing a 78.2 passer rating to opposing quarterbacks. Considering how awful the Saints have been on defense in recent years, acquiring a cornerback of Butler's caliber would go a long way. The Saints' defense ranked 30th last year, according to Football Outsiders.

But don't expect the Patriots to trade Butler for the sake of trading him. He's currently their best cornerback even though newcomer Stephon Gilmore is the one who's paid like it.

"I'm rooting -- I hope he's with us and signs his offer sheet and plays for us," Patriots owner Robert Kraft said last month, per NESN. "I have a great affection for him, and he actually was part of probably the greatest play in the history of our team. But there are a lot of people involved in that on both sides."