Losing Zak Butters would hurt Port Adelaide, but could his departure actually deliver the draft haul needed to rebuild the club faster?
The Power superstar’s looming free-agency decision has become entangled with the race for potential No.1 draft prospect Dougie Cochrane, creating a scenario in which one of the AFL’s most painful departures could also become an extraordinary opportunity.
Butters decision could ignite trade chaos
According to Fox Sports’ analysis of the Zak Butters free-agency situation, Butters’ decision could have enormous consequences for the opening stages of the 2026 AFL Draft.
Butters is out of contract at the end of the season and qualifies as a restricted free agent.
That distinction is important because Port Adelaide will have the right to match any contract offered by a rival club. If the Power exercise that right, Butters’ preferred destination would need to negotiate a trade or risk missing out on him.
Port coach Josh Carr has already made the club’s position clear.
“We’re not just going to let him go,” Carr said earlier this year.
“If he chose to leave us, then we know what that looks like. We know that we will match anything.”
Western Bulldogs, Geelong, Collingwood and Richmond have all been linked with Butters, while reports have suggested offers could approach—or even exceed—$2 million per season over an exceptionally long contract.
The exact value of any proposal remains unconfirmed, and Butters has said he will not publicly reveal his decision until the end of Port Adelaide’s season.
Port could demand an extraordinary trade haul
Matching a free-agency offer would deny Port the standard AFL compensation pick and force Butters’ chosen club to satisfy the Power through a trade.
That is where the situation could become chaotic.
Butters is a multiple All-Australian, an AFL Coaches Association champion player and a three-time Port Adelaide best-and-fairest winner entering what should be the prime years of his career.
A single late first-round selection would not come close to satisfying Port.
Former Power star Kane Cornes has suggested negotiations should begin with four first-round picks, although AFL rules surrounding future selections would make such a deal complicated. A combination of early selections, future picks and established players appears more realistic.
The Bulldogs and Geelong may be attractive destinations for Butters, but neither could simply sign the midfielder without consequence if Port follows through on its promise to match.
Richmond could present an especially intriguing option because of its considerable salary-cap room and access to premium draft assets. However, joining a developing team may be less attractive if Butters prioritises immediate premiership contention.
Collingwood has also reportedly prepared an enormous offer, but assembling an acceptable trade package without damaging its playing list would be difficult.
The result could be a multi-club negotiation involving teams attempting to convert players and future selections into the premium picks Port demands.
Dougie Cochrane changes everything
Port’s access to Cochrane is the key reason a Butters trade could turn the first round upside down.
The athletic 195cm prospect is attached to Port Adelaide’s Next Generation Academy and has emerged as one of the leading players in the 2026 draft pool.
Cochrane can play in defence, through the midfield or as a key forward. He previously won the Kevin Sheehan Medal as the best player at the national under-16 championships and impressed on his senior SANFL debut before injuries interrupted his development.
He recently strengthened his draft credentials with 30 disposals, 10 intercepts and six tackles in a SANFL appearance for Central District.
Port can match a rival bid for Cochrane, even if it arrives at No.1, but the club must satisfy the AFL’s revised draft-points requirements.
Under the new rules, clubs can use only two selections to match bids placed during the first two rounds. The change prevents teams from bundling several low-value picks together to acquire an elite academy or father-son prospect.
Port may therefore need two valuable selections to secure Cochrane, particularly if Richmond or another club calls his name with the opening pick.
A lucrative Butters trade could provide exactly those assets.
Could Richmond deliberately bid at No.1?
If Richmond holds the first selection and Butters chooses another Victorian club, the Tigers would have little reason to make Port’s draft night comfortable.
A bid on Cochrane at No.1 would force the Power to pay the highest possible price to match it. Port would secure its academy prospect, but its remaining draft hand could be significantly weakened.
Alternatively, Richmond could select another leading prospect—potentially Carlton father-son Cody Walker—and allow Cochrane to remain available for a later bid.
Every decision would have consequences for the clubs holding selections immediately behind Richmond.
The complication is that Port’s draft position could change dramatically depending on how Butters departs.
If the Power chose not to match a rival offer, the AFL could award free-agency compensation immediately after Port’s natural first-round selection, depending on the size and length of Butters’ new contract. The compensation formula is controlled by the AFL and the precise selection cannot be guaranteed beforehand.
Matching the offer and completing a trade could potentially deliver more value, but it would also require the cooperation of Butters’ nominated club.
Port must choose between a superstar and a rebuild
There is no credible argument that Port Adelaide becomes a better team immediately by losing Butters.
Elite midfielders are incredibly difficult to replace, and draft selections offer potential rather than certainty. Even Cochrane, for all his talent, has not played an AFL game and should not be treated as a guaranteed superstar.
But Port must also consider where its list is heading.
The club has struggled throughout 2026 and may be several years away from another genuine premiership challenge. By the time its next contending side emerges, Butters could be approaching the latter stages of the enormous contract now being discussed.
Trading him at maximum value could give the Power the capital to secure Cochrane while adding several other elite young players around Connor Rozee and Jason Horne-Francis.
Port also has access to highly rated prospects Zemes Pilot and Louis Salopek in the 2027 draft, giving the club an opportunity to build a new core before Tasmania’s entry further compromises the national draft.
It would be a brutal decision, but keeping a superstar at any cost is not automatically the smartest list-management strategy.
Butters departure could become Port’s unlikely escape route
Port Adelaide should continue trying to convince Butters to stay. He is one of the competition’s best midfielders and the type of player around whom premiership teams are normally constructed.
However, the Power cannot afford to approach the situation emotionally if he decides his future belongs in Victoria.
Simply accepting free-agency compensation could leave considerable value on the table. Matching the contract and forcing a trade would give Port the opportunity to demand a transformative collection of draft assets.
Those selections could secure Cochrane, strengthen the club’s young core and accelerate a rebuild that may otherwise take several seasons.
Losing Butters would initially look like a disaster for Port Adelaide. Handling his departure correctly could eventually make it the transaction that saves the club from years of mediocrity.
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