McStay looms as one of the key players for this year's exchange period, having gained interest from several Victorian clubs as his current deal reaches its expiry.
The 27-year-old has held off discussions with the Lions in regards to a new deal, while Collingwood have emerged as front-runners for McStay's services.
Brisbane are understood to have tabled an increased offer to McStay in hope of retaining the spearhead, however, a reported five-year, $3 million deal from the Magpies is set to blow the Queensland club out of the water.
While McStay hasn't confirmed his fate, it's looking increasingly likely he may be donning black and white in 2022.
7 News' Mitch Cleary reported on Saturday night that McStay and his former senior coach Leppitsch met earlier this week, however, the latter remained coy in a recent interview with the network.
"We've talked about what we need as a forward club as in key forwards, key backs all those sorts of things," Leppitsch said.
"That part is all with Dan and his professional life, I'm more there for him as a person and a mentor
"There are only a handful of players of his quality in the competition that get that level of score involvement... him and (Marcus) Bontenpelli, there's only a few others in the comp that can do that."
Collingwood is readying for a wet weather slog against the Suns in Jordan De Goey's return. Live to @cleary_mitch now with all the latest in the lead up to tonight’s clash. https://t.co/5zYfOfGqUb #7AFL #7NEWS pic.twitter.com/Y2SVVjFs4g
— 7NEWS Melbourne (@7NewsMelbourne) July 2, 2022
According to News Corp, other keen Victorian clubs have been told not to bother with further advances for McStay, whose mind may already be made up.
The Vermont product isn't the only forward linked with a shift to the AIA Centre, with Collingwood understood to have renewed their interest in GWS small forward Bobby Hill.
Hill requested a trade south of the border last season before a move failed to transpire, and is expected to do the same this year as his contract draws to a close.