The Oakland Raiders made the blockbuster trade in 2011, giving up their first round pick in 2012 for Carson Palmer. Unfortunately that trade didn't help the Raiders make it into the playoffs last season as they blew their shot losing four of their last five games. They still finished with a .500 record, though, and if Carson Palmer gets the right weapons around him, he can lead the Raiders to a division championship.
The biggest free agent that will leave Oakland is running back Michael Bush. Bush has been a good backup running back for Darren McFadden and the Raiders as McFadden has durability problems and Bush has starter capability. Many believe Bush will not be back so if that's the case the Raiders will need to hope that McFadden can stay healthy in 2012.
The Raiders are in cap trouble and they only have a couple of draft picks. They're going to have to either draft really well or find talent from within the organization. There's just not much they can do in free agency. That isn't necessarily a bad thing, though, as there is a lot of talent on the team. I don't see them making a big splash in free agency because they don't have the money.
For more free agency updates, head to SB Nation's Raiders blog, Silver and Black Pride.