Eliot Wolf said the New England Patriots are “open for business” in making a trade with the No. 3 pick in the 2024 NFL Draft. Apparently, there might not be a limit to possible moves the Patriots could make at the top of the first round.

Many people around the league believe that the Patriots could trade down from the third pick but trade back up to draft a quarterback depending on how they value the available prospects, ESPN's Adam Schefter reported Monday. The Minnesota Vikings are among the teams who are looking to trade up to the No. 3 pick, with people around the league believing their preference is to draft Drake Maye due to his connection with quarterbacks coach Josh McCown, according to Schefter.

With the Washington Commanders reportedly expected to draft Jayden Daniels at No. 2, it's likely that Maye will be available at No. 3. But if the Patriots view Michigan's J.J. McCarthy as an equal or better quarterback prospect than Maye, it isn't crazy to think that they would be willing to trade down with the Vikings, who hold the No. 11 pick.

The Patriots have sought a big return in a possible trade, with a belief that they want at least three first-round picks if they trade the No. 3 pick to the Vikings, NBC Sports Boston's Tom E. Curran reported earlier in April. The Vikings can make such an offer as they hold two first-round picks this year and can offer two future first-round picks.

Where it gets tricky though is that the Patriots might be stuck in no man's land at No. 11. If the Vikings take Maye at No. 3, it isn't a guarantee that McCarthy will fall to No. 11 as the New York Giants have been rumored to have interest picking the Michigan quarterback at No. 6.

So, that's where the double trade would come into play. There is a recent precedent of the team drafting at No. 3 trading down before trading back up. In 2021, the Miami Dolphins received three first-round picks for the No. 3 pick from the San Francisco 49ers but traded back up from the No. 12 pick to the No. 6 pick. Last year, the Arizona Cardinals moved down from No. 3 to No. 12, receiving an early second-round pick and a future first-round pick in the process. However, they traded back up to No. 6, giving the Detroit Lions a second-round pick and fifth-round pick while also getting back a third-round pick.

What Eliot Wolf, Robert Kraft have said about the Patriots making a trade, drafting QB

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While Wolf told reporters last week that the team is listening to trade calls for the No. 3 pick, they've yet to receive an offer that qualifies as a “bag.” Wolf added that teams have until the Patriots are on the clock to send in their best offer.

Still, Kraft's presence might prevent such a move from happening. The Patriots owner told reporters in March that he'd like to see the team draft a “top-rate, young quarterback.” Obviously, staying at No. 3 would be the best way to make that happen.

As for which quarterback the Patriots favor, Wolf didn't tip his hand when discussing the quarterbacks last week. However, he said he would be “comfortable” drafting any of the perceived top four quarterback prospects when asked.