The floated four-club mega trade is reportedly "back on" as North Melbourne, Port Adelaide, West Coast and GWS continue their discussions in what will be a deal for the ages.

The framework of the deal will see Jason Horne-Francis and Junior Rioli secure their desired moves to the Power, while the first three picks in this year's National Draft would also change clubs.

The Eagles and Giants would part ways with Picks 2 and 3 for this year's draft respectively, with the pair of selections landing at Arden Street along with a future first-round selection.

The Roos would be sending Pick 1 to the Giants, while the Eagles are expected to gain multiple first-round selections, including Pick 8 and 12, as they part with Rioli and Pick 2.

The deal had been knocked back by the AFL given Port Adelaide had requested an exemption to trade both their first and second-round selections for 2023, a move that isn't permitted under the league's trade guidelines.

According to multiple reports, the chances of the four-club trade have lifted, with GWS' second-round selection that is tied to Collingwood potentially the catalyst in reaching an agreement and satisfying the AFL.

That Giants selection could find its way to Port Adelaide and allow the South Australian club to part with their own future first and second-round picks to broker the trade.

A number of later selections would also be swapping hands.

The shift in draft order would have GWS leap into first overall as they eye Vic Country key-forward Aaron Cadman at the top of the order, a selection that will likely come after bidding on Brisbane father-son prospect Will Ashcroft.

The Roos would then hold the next two picks in the draft, likely selecting among a trio of midfielders in Elijah Tsatas, Harry Sheezel and George Wardlaw.

MELBOURNE, AUSTRALIA - MAY 21: Aaron Cadman of the NAB AFL Academy kicks the ball during the match between the AFL Academy and Collingwood Magpies at Skybus Stadium on May 21, 2022 in Melbourne, Australia. (Photo by Kelly Defina/AFL Photos/Getty Images)

Picks 8 and 12 could see West Coast pocket a pair of local products, with WA talent Reuben Ginbey, Jedd Busslinger and Elijah Hewett all seen as mid-first-round prospects.

Given the numbers of players and picks invovled in the floated trade, it's seen likely this deal could be finalised late into the trade period window, which closes at 7:30pm (AEDT).

TRADE BREAKDOWN: 

North Melbourne:
In: 2, 3, 40, 43, Future 1st (Port Adelaide)
Out: Horne-Francis, 1, F3 (Freo)

Port Adelaide:
In: Horne-Francis, Rioli, Future 2nd (Collingwood), Future 3rd (Fremantle)
Out: 8, 43, 53, 57, Future 1st (Port Adelaide), Future 2nd (Port Adelaide), Future 3rd (Port Adelaide)

West Coast:
In: 8, 12, Future 2nd (Port Adelaide), Future 3rd (Port Adelaide)
Out: Rioli, 2, 40

GWS:
In: 1, 53, 57
Out: 3, 12, Future 2nd (Collingwood)