Article on the athletic mention the Patriots as still interested in Julio Jones:
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Many teams would like Jones on their roster, but not many realistically can trade for him. The Falcons’ hope is that enough teams (think: three to five) express interest to create a market. Think of 1) teams with enough cap space to absorb Jones’ $15.3 million base salary; 2) contending teams that believe he would put them over the top; 3) young teams looking to take the next step. Among the teams that could fall into these categories: Ravens, 49ers, Patriots, Colts and Chargers. One league source said the Titans also may show interest, but they also are close to the cap ceiling.
The Falcons likely will be seeking draft-pick compensation. A first-rounder seems unlikely. The Falcons were fortunate to get a second-rounder from New England for Mohamed Sanu in 2019 (Bill Belichick was desperate for a final Super Bowl run with Tom Brady). Two sources have said teams also may seek to have the Falcons eat a portion of Jones’ contract."
I think Belichick will wait until terms are extremely favorable and then jump on Julio when Atlanta is desperate to sign their draft class.