NFL Trade Deadline: A Hunter Renfrow Deal Hinges on a $13M Cap Hit

With the NFL Trade Deadline rapidly approaching, a handful of players seem destined to move. One of those, for better or worse, is Hunter Renfrow. While the Raiders receiver established himself as a reliable target, his usage has fallen off a cliff this season.

Things have even reached the point where the receiver is speaking out. He's not causing controversy or actively stirring the pot but the trade speculation has gotten too loud to ignore.

"I feel like I can help," Renfrow said, according to Vincent Bonsignore of the Las Vegas Review-Journal. "Whether it's this team or whoever it is, I feel like I can help. And I'm excited to do that moving forward."

And, if you believe the reports, the Raiders are also happy to move on. At the most basic level, there's simply no reason to keep a player on the roster if you're not comfortable using him.

So, what's the problem? As usual, it's all about the Benjamins.

Renfrow's Contract Makes a Trade Tricky

If you flash back to 2021, Renfrow looked like an essential part of the Raiders' offense. The receiver pulled in 103 catches that season, breaking the 1,000-yard plateau. He also found the end zone nine times, capping off a career year.

But things have since gone downhill. The wideout struggled through a tough 2022, in which injuries and a change of offensive system affected his production (36 catches for 330 yards and two touchdowns). 2023 seemed like a chance to turn over a new leaf, but things didn't improve. If anything, Renfrow has fallen off the map.

Through Vegas' first seven games of the season, the former Clemson Tiger has only been targeted 12 times. He's caught eight of those passes for a grand total of 73 yards, becoming a non-factor in the club's offense.

As mentioned above, Renfrow has heard the trade rumors. And, if we take Bleacher Report's Jordan Schultz at his word, the Raiders have also tried to cut a deal without any luck. The issue, it seems, comes down to cold hard cash.

"From everything I've been told, the Raiders have been trying to move Renfrow, really going back to last season, and unfortunately they haven't been able to find a suitor in large part because of his contract," Schultz explained.

After his breakout season, the wideout inked a two-year extension worth a shade under $32 million. According to Over the Cap, Renfrow carries a cap hit of more than $13 million both this season and next.

While that money may seem insignificant when quarterbacks are eating up more than $50 million in annual cap space, it's certainly understandable how the cash would complicate matters. If you're a buyer, $13 million is a decent chunk of change for someone who hasn't really produced since 2021. For the most part, general managers either want a bargain or a sure thing. Renfrow, however, is neither of those options.

And, from the Raiders' perspective, the contract also complicates things. If teams are hesitant to take on Renfrow's cap hit, Las Vegas will have to sweeten the pot. Whether that means continuing to foot some of the bill or giving up an extra draft pick (those draft picks are a key part of a rebuilding effort), it's not ideal to pay someone else to take a player off your hands.

Time is also working against the AFC West club at this point. With the trade deadline a day away, there isn't room to wait for a perfect solution; a deal gets made or the Raiders are left holding the bag.

That Reality Could Make Renfrow a Real Bargain

While the Renfrow situation isn't ideal for either the Raiders or the receiver, there is a potential winner: a team that lands him via trade.

As laid out above, it's unlikely that any NFL club will pay full price for the wideout. If Las Vegas is serious about moving Renfrow, they'll have to either retain some salary or throw a draft pick in to sweeten the pot. And that bodes well for the potential opposing general manager.

The former Clemson Tiger has fallen off since 2021, but it's hard to believe that his skill set has completely evaporated. Renfrow was never making a living based on blazing speed or physical gifts. Instead, he shone on underneath routes, where his intelligence, route-running and hands could make a difference. That should allow him to age a bit more gracefully than someone who's reliant on raw athleticism.

And if your team needs a secondary or tertiary option to play off a star like Stefon Diggs or Travis Kelce, Renfrow profiles well. He's never dropped more than four passes in a season, and that high-water mark came as a rookie; he also excels at short routes, usually being targeted between six and nine yards downfield. That's the sort of safety valve that every coach will appreciate, especially when the offense needs to move the chains. He might not be worth $13 million per season, but he'll do a job.

It's also worth considering that the Raiders don't have much leverage here. Again, the current regime has shown no interest in using Renfrow, and keeping him on the roster amounts to setting both cash and cap space on fire. If Vegas is serious about making the trade happen, some other team is going to get a potential steal.

But will that deal come to fruition? Or will Renfrow be stuck riding the pine in Las Vegas?

For better or worse, we'll get our answer on Tuesday.