This is absolutely true.
The point is, now, the starting point would be the 11th pick, and that's just assuming the Patriots don't match whatever the offer is.
Simply sending back #32 doesn't get it done.
Million Dollar Man Tom Kiley should have had Butler sign his tender. There are lots of eventualities for Butler, but they are getting less and less lucrative, and less and less beneficial for every second the Super Agent drags this on.
It could all still work out for him, but being traded 1 for 1 for Cooks, and signing a fat contract with the Saints, is looking like it was best-case scenario.
Saints are in a really tough spot. Sure, they could try to work out a trade, but if it all comes down to an offer sheet - do you offer a top-of-the-market UFA-type contract? Or do you offer something like 4/40? And if they do offer 4/40, who's to say the Patriots won't match that?