Trade speculation isn't new for San Francisco. Ahead of free agency, the 49ers reportedly received calls from teams inquiring about linebacker Fred Warner. Those discussions never gained traction, and a deal involving McCaffrey appears just as unlikely.
Still, Kosko believes McCaffrey remains the team's most valuable trade chip. The dynamic playmaker is set to turn 30 before the 2026 NFL season and is coming off his third career campaign with over 2,000 scrimmage yards—production that could command league-wide interest.
While Kosko admits that a deal involving McCaffrey is unlikely, he can't help but wonder what the return for the playmaker might be.
"It is highly unlikely the 49ers will move on from McCaffrey, but given multiple defensive needs and an aging offensive line, exploring a trade could be worth considering," Kosko wrote. "McCaffrey remains one of the most dynamic backs in the NFL, but his career has been impacted by injuries, and he is entering his age-30 season — a point at which decline often begins for running backs."
Injuries limited McCaffrey to just four games in 2024, but he bounced back in 2025, earning NFL Comeback Player of the Year honors.
The 49ers currently hold six selections in the 2026 NFL Draft and still have needs on both the offensive and defensive lines, at wide receiver, and potentially in the secondary.
"Moving him now could allow San Francisco to maximize value while addressing key roster needs," Kosko added.
Despite the theoretical value of such a move, it's tough to imagine the 49ers parting ways with McCaffrey, given his importance to head coach Kyle Shanahan's offense.
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