The most common and most likely answer to this crossword clue is the 8 letter word KNOTHOLE
I've seen this crossword clue in Financial Times
K
N
O
T
H
O
L
E
Buddy explains!
The straight part
We know that "Part of the deal, perhaps" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case part of the deal, perhaps = knothole.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does KNOTHOLE mean?
KNOTHOLE noun- In a piece of lumber, a void left by a knot in the wood; such holes are often convenient for peering through when they occur in fences.
- (Cincinnati) Youth league baseball.