Vic Carucci of nfl.com is reporting today that the Patriots and Panthers are in talks for a trade that would send Julius Peppers to New England in exchange for the second-round draft pick (34th overall) the Pats received from Kansas City for Matt Cassel and Mike Vrabel.

Carucci writes that the sides would like to complete the trade sometime between the owners' meetings, which start next week, and next month's draft.

Peppers would be converted to outside linebacker in the Pats' 3-4 defense; an anonymous player-personnel source tells Carucci that Peppers is too long in the torso to play OLB effectively, and he's "too stiff" in coverage.