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Cornerback Malcolm Butler met with the Saints last week and his visit ended without the announcement of an offer sheet that would bring us closer to finding out where Butler will play in 2017.

The conversations between team and player still appear to have been productive, however. Mike Giardi of CSN New England reports that parameters for a contract are “mostly in place” between Butler and New Orleans. Per Giardi, the amount of guaranteed money is still the source of “quibbling” in the negotiations.

Butler was tendered as a restricted free agent at the first-round level by the Patriots, which means New England can match any offer or get a first-round pick in return. If that’s how things played out with the Saints, they’d be giving up the 11th overall pick rather than the No. 32 pick they received from the Patriots in the trade for wide receiver Brandin Cooks.

They might prefer to send that pick back to New England, although that can’t happen unless Butler signs his tender with the Patriots. As long as he’s unsigned, Butler can’t be traded and things will stay in a holding pattern until Butler signs something with either team.