The LA Chargers were geared up to make at least one big move this offseason with the second-most cap space in the NFL. General manager Joe Hortiz has made quite a few moves to fill out the roster but none of them checked the box of being the "big move" fans were expecting.
While many fans have given up on the possibility of the Chargers making a big move, there is still potential for the team to take a swing. After all, the Chargers still have the cap space to take a swing and there is one intriguing name on the market.
After paying Ja'Marr Chase and Tee Higgins top-of-the-market money, it seems even more likely the Cincinnati Bengals trade edge rusher Trey Hendrickson this offseason. While the two sides are reportedly still working out an extension, the often-cheap Bengals may have hit their spending limit.
This is the big swing the Chargers can still make this offseason. The Chargers are set up to pull off a Hendrickson blockbuster, the only question is if the team is actually interested in doing so.
The Chargers are the perfect Trey Hendrickson dark horse
If the Chargers want to trade for Hendrickson — and that is still a big if — they are set up to make it happen. The Chargers are in a great financial situation this offseason and in the future and have a need at edge rusher they can fill.
The Chargers currently have $50.7 million in cap space but there are several players whose cap hits have not yet been announced. Based on the amount the Chargers are paying on their salaries, though, it is safe to assume the remaining free agents that have been signed will eat up roughly $20 million in cap space.
That brings the Chargers down to roughly $30.7 million in cap space. However, a Rashawn Slater extension (which absolutely should happen this offseason) would create just under $14.3 million in cap space. Los Angeles should have roughly $45 million in cap space to utilize.
The draft class is projected to cost over $11 million in cap space this offseason. However, if the Chargers trade a third-round pick, that cost would go down under $11 million. Even if the Chargers are budgeting $11 million, that still leaves the team with $34 million to use.
Some of that will naturally be used for an in-season budget but the team has more than enough space for Hendrickson. Hendrickson would carry roughly a $16 million cap hit this season, leaving the Chargers with plenty of space to work with.
The Chargers have also kept next year's books clean. The team has over $150 million in projected cap space in 2026. Some of that would go down with Slater's extension but the team could essentially replace Khalil Mack's $18 million cap hit this year with a slightly larger cap hit for Hendrickson next year.
Hendrickson would serve as a Joey Bosa replacement who would also bring stability to the defensive line if Mack leaves after the 2025 season. As great as Tuli Tuipulotu is, there is no such thing as too many pass rushers. The Philadelphia Eagles just reminded everyone of that.
On paper, the Chargers are the perfect team to take a swing and trade a mid-round pick for Hendrickson. Whether or not it actually happens depends on if the Chargers are interested.