The free agent cornerback played last season with the New England Patriots. He made an appearance in every game in 2011, including two starts for the beleaguered Patriots secondary.
Molden, 27, is a big and physical corner who stands six-foot-one and weighs just under 200 pounds.
With Corey Webster, Terrell Thomas and Prince Amukamara already in the fold, Molden would be brought in mostly for depth in the defensive backfield. With the way today's NFL is played, a team can never have enough quality corners.
Aaron Ross leaving for Jacksonville also left a hole for general manager Jerry Reese to fill. Molden would fit the bill as an experienced player with some ability.
Molden was drafted four years ago by the Houston Texans, where he played before joining New England.