The 24-year-old is contracted to the Pies until the end of next season, but the club could be willing to trade him after they had an open conversation about where his future lies.
Phillips was reportedly told he could be squeezed out of their best 22 in 2021.
The elite runner has had two consistent years with the Pies, having finished top 10 in the club’s best and fairest in 2018 and 2019.
Phillips is sure to attract interest from rival clubs given how important wingman are in today’s game, averaging 16.3 disposals a game, 3.1 marks and 2.3 tackles per game in 2020.
He could be a casualty of the Pies’ salary cap squeeze, with the club still needing to lock away Jordan De Goey, Brody Mihocek and Josh Daico on new deals.
However, if a suitable trade offer does not come to fruition then Pies would be happy to keep Phillips at the Holden Centre.