The New England Patriots are reportedly contemplating trading back-up quarterback Ryan Mallet for a draft pick in the upcoming NFL Entry Draft, a source close to situation reported on Sunday.

The Pats are trying to add young talent to a lineup anchored up by veteran signal-caller Tom Brady and a collection of seasoned team assets. According to ESPN Boston's Mike Reiss, New England could make a surprise trade in the draft with Mallet likely trade bait.

Mallet, who has been serving as a backup for Brady since he was selected in the third round of the 2011 Draft, is considered a young player with potential to grow into a solid QB in the league.

However, Reiss believes the time is not ripe for the Pats to trade their back-up quarterback because no teams would be currently willing to send a middle-round pick for Mallet.

"I'm not sure Mallett would even command a third-rounder at this point. I think this is a case where we might be overrating the local talent a bit. In the end, I think Mallett will have more value to the team being on the Patriots' roster than the late-round pick you might be able to receive in return for trading him," Reiss claimed.

According to Reiss, Mallet can only increase his trade value by putting up massive numbers in preseason and staying for one more year as Brady's backup before walking away as a free agent. If that deal were to take place, the Patriots could receive a high-compensatory draft pick, which could land them a reliable player.

"I think the best-case scenario for the team and Mallett at this point is that he lights it up in the preseason, creating some value for himself, and then he can sign elsewhere as an unrestricted free agent next offseason and the Patriots could potentially be rewarded with a high compensatory draft choice," Reiss stated.