According to numerous reports, the Terry Glenn situation is much closer to being resolved, with a possible trade with Green Bay potentially getting worked out before the wide receiver's grievance hearing with the NFL is heard Friday.
New England is in line to get a fourth-round pick from Green Bay's this year and a conditional pick in 2003 in exchange for Glenn. The conditional pick could get as high as a first-rounder in 2003 if Glenn were to have an extremely productive season.
Before the trade can be completed, Glenn must first finalize a new contract with the Packers while settling his various legal and contractual issues prior to Friday's scheduled grievance hearing against the Pats. Agent James Gould told several reporters that no deal was yet in place.
Initially it was reported Glenn was looking for a $7 million bonus from the Packers, but now that number is ranging as low as a $3 million bonus. If a deal can be worked out, Glenn would drop his grievance. If there is no deal before Friday, the hearing will determine whether the Patriots can withhold $8.75 million of Glenn's signing bonus. If it is ruled that the team must pay the bonus, trading him would become very difficult because of huge salary cap ramifications.