The 23-year-old managed just 14 appearances this season, two less than his rookie season in the blue and gold during West Coast's premiership campaign in 2018.
Contending for attacking spots alongside Jack Darling, Josh Kennedy and Oscar Allen has given Waterman a challenge to cement his place in the Eagles' forward structure, with the athletic spearhead managing less than a goal per game in 2021.
At times out of favour at West Coast, clubs have been expressing some level of interest in Waterman's services, with his manager Paul Peos telling SportFM 91.3 that his client is prepared to continue his battle in fighting for opportunities t the Eagles.
"We’ve fielded quite a number of inquiries on Jake this year," Peos said.
“Jake is a contracted player and had only just committed at this time last year, so he’s a pretty keen participant to be part of the Eagles.
"I won’t deny that there was some frustration building in Jake this year... with playing in different roles and not being able to settle.
"He didn’t get that sustainability of opportunity in a role where he could really build on his year.
“He plays well as a forward, he knows how to find the scoreboard – he’s pretty consistent with that. We‘re just looking for him to have some nice, consistent opportunity.
"I believe it’ll come but we’ll wait and see how that folds out through 2022."
Waterman has played 53 games for the Eagles across four seasons at the club, booting 50 goals and averaging 5.47 marks per game.