Todd Marshall could remarkably follow Zak Butters from Port Adelaide to the Western Bulldogs as part of a controversial series of transactions designed to give the Power three first-round selections.
Under the reported scenario, Port would decline to match the enormous free-agency offer accepted by Butters and receive pick No.5 as compensation from the AFL.
The Power could then separately trade contracted forward Marshall to the Bulldogs for their first-round selection—expected to move from No.12 to No.13 following the Butters compensation—and a future first-round pick.
The outcome would leave the Bulldogs with both Butters and Marshall while Port acquired three first-round selections.
However, the AFL has already warned clubs against arranging secret or unauthorised side deals, with every transaction required to be independently justifiable.
“Any deal here absolutely needs to pass the pub test, because the AFL world is very sceptical already about these deals,” Fox Footy reporter Jon Ralph said, according to Fox Sports.
Marshall Emerges as the Potential Circuit-Breaker
Butters has selected the Western Bulldogs as his preferred destination after formally informing Port Adelaide that he intends to return to Victoria.
The Power had repeatedly indicated that they would match any rival offer for the restricted free agent, forcing his chosen club to negotiate a trade.
That remains one available pathway.
Port could match the Bulldogs’ reported nine-year offer and demand at least three first-round selections for one of the competition’s best midfielders.
The problem is that the Bulldogs do not currently possess the draft capital required to satisfy such a demand without involving another club.
A different strategy has consequently emerged.
Port could allow Butters to join the Bulldogs as a free agent, receive pick No.5 as compensation and then negotiate a separate trade involving Marshall.
“Contracted Port Adelaide big man Todd Marshall has emerged as a possible circuit-breaker in a trade that would satisfy Port and the Western Bulldogs,” AFL journalist Tom Morris reported.
“Most importantly, it would be a deal that could stand on its own two feet, separate to the compensation pick Port would receive.”
No trade has been agreed, and neither Port Adelaide nor the Bulldogs has publicly confirmed that Marshall will be moved.
The scenario should therefore be treated as a possibility under consideration rather than an established deal.
The Hypothetical Deal Would Deliver Three First-Round Picks
The suggested arrangement would produce the following result.
The Bulldogs would acquire Butters through free agency without surrendering a draft selection directly to Port Adelaide.
The AFL would then award the Power pick No.5 as compensation because of the extraordinary length and value of the contract accepted by Butters.
In a separate transaction, the Bulldogs would send their first-round selection and a future first-round pick to Port for Marshall.
Port would consequently receive pick No.5, approximately pick No.13 and another first-round selection in the 2027 draft.
The Bulldogs would add Butters and Marshall.
On paper, the outcome could satisfy both clubs.
Port would secure the draft capital required to accelerate its rebuild, while the Bulldogs would avoid sacrificing three first-round picks exclusively for Butters.
However, the second deal must represent fair value for Marshall alone.
It cannot merely function as disguised additional compensation for Port agreeing not to match the Butters offer.
AFL Warns Against Secret Side Deals
Ralph reported that the AFL intends to warn every club against “secret deals and unapproved trades” before the player movement period.
“The AFL has put a shot across the bows of both Port Adelaide and the Bulldogs as they try and come up with the perfect trade and compensation solutions,” he said.
“The centrepiece of this will be Port Adelaide taking pick No.5 as free-agency compensation, and then there’ll be a secondary linked element.
“Clubs would see it as collusion, but both these clubs would say, ‘It’s just smart business’.”
The distinction between collusion and intelligent list management will depend upon the value assigned to Marshall.
If the Bulldogs genuinely believe the contracted forward is worth a current first-round selection and a future first-round pick, the clubs could argue the transaction is defensible.
If Marshall would ordinarily attract considerably less, the trade would appear designed to manipulate the free-agency compensation system.
The AFL would then have grounds to reject it.
Is Marshall Worth Two First-Round Selections?
Marshall is contracted to Port Adelaide until the end of 2029, giving the Power considerable negotiating strength.
The 27-year-old has demonstrated that he can be an effective AFL key forward when healthy, while his height and mobility would provide another option within the Bulldogs’ attacking structure.
However, his injury history complicates any assessment of his trade value.
Marshall has endured repeated concussion problems and has not established himself among the competition’s most consistently dominant key forwards.
Two first-round selections would therefore represent an extremely generous return when considering the deal in isolation.
That is precisely why the proposed transaction will attract such intense scrutiny.
The Bulldogs cannot claim Marshall is worth two premium selections merely because acquiring him also allows the Butters arrangement to proceed smoothly.
The question for the AFL will be whether another club would realistically consider paying a comparable price for Marshall under ordinary circumstances.
If the answer is no, the deal may struggle to pass the test demanded by league officials.
Bulldogs Could Build an Extraordinary List
From the Bulldogs’ perspective, adding both players would transform an already talented squad.
Butters would join Marcus Bontempelli and Ed Richards in an extraordinary midfield capable of overpowering opponents around stoppages.
The Sporting Base previously examined why the Bulldogs were “clearly all-in” during the race for Butters, with the club reportedly offering one of the largest contracts in AFL history.
Ralph has since reported that the agreement could be worth approximately $19.8 million across nine seasons, equating to $2.2 million annually.
Those figures have not been formally confirmed by the Bulldogs or Butters’ management.
Marshall would address a different area of the ground.
The Bulldogs are expected to regain Sam Darcy following his injury-interrupted season and already possess several versatile tall players.
Marshall could operate as a traditional key forward, provide support in the ruck or give Luke Beveridge greater freedom to reposition Rory Lobb.
The Bulldogs would possess an enormous concentration of talent.
They would also surrender valuable draft assets and accept the remaining three years of Marshall’s contract.
Port Needs Picks to Secure Its Rebuild
Port Adelaide’s willingness to consider the arrangement is closely connected to the national draft.
The Power has access to highly rated Next Generation Academy prospect Dougie Cochrane, who could attract a bid as early as No.1.
Port must accumulate sufficient draft value to match that bid without sacrificing the remainder of its recruiting hand.
Pick No.5 would provide an enormously valuable starting point.
Adding another current first-round selection and a future first-rounder could allow the Power to secure Cochrane while introducing additional elite young talent.
The club is also preparing for a 2027 draft in which Zemes Pilot and father-son prospect Louis Salopek could attract early bids.
As The Sporting Base previously argued, losing Butters could provide the draft capital required to reshape Port’s list—if the departure is handled correctly.
That does not mean the Power will improve immediately.
Butters is an elite midfielder in the prime of his career, while draft selections offer potential rather than guaranteed performance.
Losing both Butters and Marshall would also remove significant experience from a team already moving towards a younger core.
Butters’ Choice Changed the Negotiations
Butters had attracted major interest from Geelong, Richmond and the Bulldogs after formally informing Port Adelaide that he wanted to leave.
Richmond possessed the most attractive collection of draft assets for the Power, while Geelong appeared to offer Butters the strongest immediate premiership opportunity.
The Bulldogs ultimately secured his nomination by presenting a combination of money, competitive potential and personal connection.
Butters reportedly supported the club while growing up and has an existing relationship with coach Luke Beveridge.
His decision leaves Port and the Bulldogs responsible for finding an acceptable pathway.
Matching the offer and negotiating a direct trade would be the cleanest option.
Accepting free-agency compensation and completing a separate Marshall deal could provide a more attractive result for both clubs—but only if the AFL accepts that the transactions are genuinely independent.
Smart Business or Compensation Manipulation?
There is nothing inherently improper about two clubs completing several trades during the same player movement period.
Port and the Bulldogs are entitled to explore every legal option available to them.
The league also cannot reject a transaction simply because it produces an excellent result for both sides.
But the proposed Marshall deal raises an unavoidable question.
Would the Bulldogs genuinely trade two first-round selections for him if Butters were not involved?
If they would, the clubs can argue that the transaction stands independently.
If they would not, it becomes difficult to describe the deal as anything other than additional payment for Port refusing to match the Butters contract.
The AFL’s compensation system is already controversial because the league rather than the recruiting club supplies the selection.
Allowing a heavily inflated secondary trade could effectively give Port free-agency compensation and a negotiated trade return for the same departing player.
That would establish a dangerous precedent.
Marshall may yet become an important player for the Bulldogs.
But his value cannot be artificially transformed merely because he offers a convenient method of completing the biggest transaction of the trade period.
The proposed deal may be clever.
Whether it passes the pub test is another question entirely.
