Luke Jackson during the 2022 AFL Round 1 match between Melbourne and Western Bulldogs (Photo by Cameron Grimes / Zero Digital Media)

A rumoured seven-year, $10.5 million deal from Fremantle for Melbourne ruckman Luke Jackson has been rubbished as the Demons themselves table an enticing offer to the emerging superstar.

The record contract was reported by former West Coast forward Peter Sumich, who suggested Jackson wasn't worth the substantial price tag.

“That’s a lot of money and if that is the case I reckon it’s ridiculous. The kid’s not worth that, but sometimes you pay overs to get them in. It will be interesting times for Luke," Sumich told 91.3 SportFM.

The report came days after it had been revealed Fremantle were putting money aside for Jackson's services, with the Western Australian club looking to pry the 20-year-old back to his home state.

Both the Dockers and Eagles are likely to come hard for the young Demon, who has shown an ability to wrestle with some of the best ruckmen in the AFL while also sharing his workload as a forward target.

Across just 42 games in the red and blue, Jackson has held down an integral spot under senior coach Simon Goodwin, playing a starring role in the club's drought-breaking premiership run of last season.

The Bullcreek-Leeming product is likely to be on the end of significant offers from both WA clubs, but not nearly close to Sumich's reported $10.5 million sum, according to The Herald Sun.

It is understood that Fremantle and West Coast are anticipated to have offers south of seven figures for Jackson. While Melbourne may not be able to offer the same price, they are reportedly competitive.

News Corp's report suggests the Demons have tabled a multi-year extension for Jackson that could rival that of keen suitors should the versatile tall look to extend his successful stint at Casey Fields.

Jackson could earn in the vicinity of $800,000-$900,000 per season in his next deal, and will have the next month of action to prove that worth in the top tier.

With first-string ruckman Max Gawn sidelined for the coming weeks, coupled with Majak Daw's latest setback, Jackson is set to carry the bulk of the ruck work in what is a critical coming few weeks for the reigning premiers.

Luke Jackson and Tim English during the 2022 AFL Round 1 match between Melbourne and Western Bulldogs (Photo by Cameron Grimes / Zero Digital Media)

Jackson will be tasked with an encounter against ladder leaders Brisbane on Thursday night, his first test to lead the Demons back into winning ways after three straight losses.

With Gawn's syndesmosis injury seeing him sidelined for up to a month, Jackson could hold down the fort for clashes with Adelaide, Geelong and Port Adelaide in succeeding weeks.

The Demons will host Brisbane at the MCG on Thursday night, with the match to commence at 7:20pm (AEST).