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After weeks of speculation, the New England Patriots have finally decided to trade Joe Milton III. The team is trading the young quarterback to the Dallas Cowboys, as confirmed by CBS Sports NFL insider Jonathan Jones. In addition to Milton, the Patriots are sending the Cowboys a 2025 seventh-round pick in exchange for a 2025 fifth-round pick, according to NFL Media. 

Several teams had expressed interest in trying to acquire Milton, a 2024 sixth-round pick who impressed many around the league after throwing for 241 yards (on 22 of 29 passing) and scoring two touchdowns in his first career start, a 23-16 win over the Buffalo Bills in Week 18 of last season. The Patriots reportedly had a better offer for Milton but instead chose to send him to his desired destination. 

"My family grew up a Cowboys fan," Milton told Fox Sports on Thursday. "My mom always had a Cowboys shirt on. She always talked about them. Living in Texas has been a longtime dream of mine. And now I'm with them. I'm ready to work."

In Dallas, Milton will back up Dak Prescott, a three-time Pro Bowler who played in just eight games last year after suffering a season-ending hamstring injury. The Cowboys say they are "thrilled" with Prescott's recovery as he looks to return to the form that saw him lead the NFL with 36 touchdown passes during the 2023 season. 

With Milton on his way out, New England's depth chart at quarterback currently consists of recently signed backup Joshua Dobbs and starter Drake Maye, who was named to the Pro Bowl at the end of his relatively successful rookie season. 

Here's our instant trade grades for both teams. 

Cowboys: A 

While they've received some unflattering press recently, the Cowboys deserve a lot of credit for acquiring a talented young quarterback with untapped potential. In Milton, the Cowboys have gotten themselves a capable backup for Prescott and didn't have to give up much to get him. 

Dallas needed to replenish its quarterback room after parting ways with Cooper Rush and Trey Lance. Instead of signing an aging veteran (like Joe Flacco) or drafting a rookie, the Cowboys were able to acquire the 25-year-old Milton, who has one NFL career start under his belt and one year of NFL experience. Milton will now share a quarterback room with Prescott and Will Grier, a 30-year-old veteran, who, like Prescott, can help serve as a mentor for Dallas' newest quarterback. 

Prescott is the starter in Dallas, but don't be surprised if the Cowboys try to create some packages for Milton in an effort to take advantage of his talent while adding another wrinkle to the offense. 

Patriots: B 

Given all the hub this offseason surrounding Milton, and amount of teams that could use a quarterback, it's somewhat surprising that the Patriots didn't get more in exchange for Milton. While this is true, one recurring theme this offseason is that teams are protecting their draft picks more than ever, so the Patriots getting a fifth-round pick (and trading away a seventh-round pick) for Milton may not be that bad, after all. 

Let's compare it to the Philadelphia Eagles' recent trade of backup quarterback Kenny Pickett to the Cleveland Browns. Philadelphia sent Pickett to Cleveland in exchange for a 2025 fifth-round pick and fellow backup quarterback Dorian Thompson-Robinson. In essence, the Patriots received the same compensation from Dallas as Philadelphia did for Pickett, a former first-round pick with 25 career starts who will reportedly get a chance to compete for the starting job in Cleveland. 

At the end of the day, the Patriots need draft capital in order to speed up their rebuilding process. Trading Milton helped them do that, and it's now up to new head coach Mike Vrabel and the rest of the team's front office to parlay their new pick into a player who can help the Patriots win in 2025 and beyond.