New England Patriots wide receiver Deion Branch has tentative deals in place with the New York Jets and Seattle Seahawks, ESPN.com’s Len Pasquarelli is reporting.

But neither team, the sources acknowledged, has been able to come to an agreement with the Patriots on compensation for the four-year veteran. And without the second half of the deal in place, the deadline could pass without a trade, and again force Branch to decide whether to extend his camp-long holdout.

Apparently the Patriots are seeking two No. 1 draft picks for Branch, which is just ludicrous in my opinion. Branch had a nice season last year and is a good target, but he doesn’t have game-changing ability like Steve Smith, Randy Moss or Chad Johnson.

He would make a team better, that’s for sure, but two No. 1 draft picks? Please.

My guess is that Branch will be back in New England by the 4pm deadline that they set for a deal to get done.

Upadate: New England rejected both Seattle and New York’s offers (which reportedly were both pretty solid) and now the player’s union has filed a grievance on the behalf of Branch.