North Melbourne will field offers from Port Adelaide and Adelaide for Jason Horne-Francis and are prepared to hold the No.1 draft pick to his contract if a trade does not suit them.
Horne-Francis lodged a trade request on Sunday night, the eve of the trade period, to return to South Australia.
Port Adelaide are expected to be in the box seat, given Adelaide are likely to spend their pick No.5 in a deal for Gold Coast's Izak Rankine.
"At this stage, the request is to go back to South Australia," Kangaroos football boss Brady Rawlings told reporters.
"We'll have a chat with both clubs today and if there's a deal that we think's advantageous for our footy club, we'd consider it."
Rawlings was confident Horne-Francis could comfortably walk back into Arden Street if his trade request fell through, and would not lose trade value by being out of contract next year.
"He's a contracted player. We've turned down some huge offers in the past so the deal's going to have to be pretty good for us to look at it," Rawlings said.
"If he was to be with us in 12 months' time, the value is still incredibly strong.
"So it's certainly not something we'd consider, thinking 'we have to do it this year'."
The Kangaroos will consider draft picks and players in exchange for Horne-Francis.
They are willing to entertain offers for this year's No.1 pick and are also set to bring in Fremantle duo Griffin Logue and Darcy Tucker.
Fremantle are confident they can seal a deal for Melbourne ruck Luke Jackson while keeping hold of Rory Lobb, who wants to go to the Western Bulldogs.
The Dockers will trade Blake Acres to Carlton.
Meanwhile, Essendon are among the clubs keen to take Jack Bowes and pick seven as Gold Coast look to offload the midfielder's salary.
"The draft pick would be nice to have but we've actually tracked (Bowes) for two years, as a player that can play inside mid, that has a lot of scope to develop into an elite AFL midfielder," Bombers list manager Adrian Dodoro told reporters.
Bowes has also been linked with Geelong, and Gold Coast expect to learn today which club the player would like to join.
Richmond will land Tim Taranto from GWS in an exchange for draft picks, while Jacob Hopper is also set to land at Punt Road in a separate deal.
Collingwood expect no issues in striking a deal to send Brodie Grundy to Melbourne.
The Magpies will be busy in the coming days, with Dan McStay (Brisbane), Bobby Hill (GWS) and Billy Frampton (Adelaide) poised to come in from rival clubs.
Collingwood are set to lose talented young forward Ollie Henry to Geelong, who are also targeting GWS youngster Tanner Bruhn.
