The 22-year old is coming off a breakout season for the Magpies, averaging a career-best 25.5 disposals per game and covering an average of 441 meters gained, the most at the club.
Taken with pick no. 58 in the 2015 National Draft, Phillips was one of seven Magpies to feature in all 26 games last season, including the club’s Grand Final loss to the Eagles.
The running machine just won his fourth consecutive 2k pre-season time trial on Monday and it is understood that he could command as much as $550,000-$600,000 per season on the open market.
Collingwood are coming off a busy list management period, recently re-signing Jordan De Goey, Josh Thomas, James Aish, Brody Mihocek, Matt Scharenberg, Darcy Moore and Tom Langdon and extending Dayne Beams’ contract.
The club is still looking to pen new deals for Steele Sidebottom, Will Hoskin-Elliott, Taylor Adams, Jack Crisp and Brayden Sier.
Phillips has played 50 games for the Pies after making his debut in 2016.