We should trade him now for whatever we can get within reason.
Nicks is going to want in the neighborhood of 10 million per season. If we paid him that, then a third of all our cap money would be tied up in three players: Eli, Cruz, and Nicks. Reese would have a tough time building any other position on the team.
What the team needs now is cheap labor, and you get that in the draft. We should take a conditional third for him and hope Reese doesn't use it on the next Ramses Barden, Chad Jones, or Jayron Hoseley.