Collingwood and North Melbourne are at an impasse over trade talks involving Jaidyn Stephenson, reports The Age.

The Kangaroos are reportedly unwilling to trade a first-round pick to the Magpies and would only offer a second rounder.

Collingwood believes it would take a first-round pick to trade Stephenson, who is yet to commit to North Melbourne.

The 2018 Rising Star winner still has three years to run on his deal on a salary reportedly worth as much as $600,000 a season.

Sources say the prospect of the goalsneak departing the Pies is a genuine "50-50".

"Flip a coin on this one," SEN's Sam Edmund said on SEN Breakfast. 

"There’s a real decision to make for the player who is facing the prospect of going from a very big club to a smaller club facing a couple of years of pain.

"Discussions are ongoing as to how much Collingwood might be willing to contribute to this one as well.

"Contracted until 2023 on close to $600,000 a season, that agreement was put in place around about this time last year.

"Honestly, flip a coin on this one."

In other news, The Age reports that the Kangaroos are likely to complete a trade with Collingwood for Atu Bosenavulagi, who has struggled for senior opportunities in the black in white.

Bosenavulagi made his AFL debut in 2020 and has played three games.

The Roos are also believed to have some interest in Pies wingman Tom Phillips - who has also been linked to Hawthorn.

The AFL trade period ends at 7.30pm tonight AEST.