Fox Sports has reported that Cloke and the Bulldogs have agreed to terms on a two-year deal worth a smidgen of his current $800,000 per season wage.
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Cloke was due to be paid around $450,000 by the Pies in 2017, with his current deal heavily front ended. However, at the Kennel, he will earn far less than that.
Collingwood could receive either a second to third round draft pick or could even request an opportunity starved player they feel may benefit from a fresh start in exchange for Cloke.
The Magpies are expected to be busy this trade period, with Daniel Wells and Lin Jong among the names linked with a move to the Holden Centre, while defender Nathan Brown has been touted as a possible target of the Kangaroos.