Las Vegas Raiders wide receiver Hunter Renfrow has been in trade rumors for much of the 2023 NFL offseason. That speculation could turn out to be much ado about nothing. The Raiders haven't received trade offers for Renfrow, according to The Athletic's Tashan Reed. He reportedly isn't close to being moved.

A Raiders' Hunter Renfrow trade would not be a wise decision for Las Vegas. Given the receiver's production and perceived value around the league, the Raiders are better off holding onto Renfrow for the start of the 2023 NFL season.

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The Raiders' offseason moves ignited speculation that Renfrow's days in Las Vegas could be numbered. First, the Raiders signed receiver Jakobi Meyers to a three-year, $33 million contract in free agency. A month and a half later, Las Vegas used the No. 100 overall pick in the 2023 NFL Draft to select receiver Tre Tucker. Those two additions combined with Davante Adams' massive contract with the Raiders seemingly made Renfrow expendable.

If the Raiders hope to be competitive in 2023, none of their Pro-Bowl-caliber players should be considered expendable. Renfrow is only two years removed from making the Pro Bowl. The 27-year-old received the honor in the 2021 season. He caught 103 passes for 1,038 yards and nine touchdowns.

An oblique injury and a concussion limited Renfrow to 36 receptions for 330 yards in 10 games last season. Renfrow is reportedly healthy, so he should be in for a bounce-back 2023 campaign.

Assuming Jimmy Garoppolo is the Raiders' starting quarterback in 2023he had foot surgery in March—he'll need weapons around him to succeed. Adams, Renfrow and Meyers could help give Las Vegas a potent offense. The receiving corps takes a significant hit if Renfrow isn't part of it.

Maybe Renfrow is slightly overpaid with a 2023 salary just north of $13 million. His contract is far from being a disaster. Seventeen receivers have a contract with a higher average annual value than Renfrow, according to Over the Cap.

If the Raiders trade Renfrow, they will incur a dead-money salary-cap hit of around $1.8 million through the 2026 season. Renfrow has two more years left on his contract, though his 2024 salary is not guaranteed.

The Raiders' best course of action is to hold onto Renfrow and hope that he can help contribute to one of the NFL's best offenses in 2023. Las Vegas can always re-evaluate things as the trade deadline gets closer.