Port Adelaide midfielder Zak Butters has reportedly been offered what could be the largest deal in AFL history, with a lucrative contract tabled to the star by the Power in an effort to retain his talents.

Butters has been thrust into the trade rumour mill this season despite being contracted until the end of 2026, as reports surface believing he could be pryed back to his home state of Victoria as early as this season.

Four clubs initially emerged as the leading contenders - Essendon, Richmond, Hawthorn, and Collingwood - but recent reports have suggested that the Bulldogs and Geelong are now frontrunners for Butters if he is to leave the Power.

Butters could seek to leave for "a myriad" of reasons, some being the pull of home after growing up in Victorian town Bacchus Marsh, as well as Butters' close bond with soon-to-depart coach Ken Hinkley.

However, in an effort to secure the 24-year-old long-term, the Power have offered a unique deal that could see Butters re-sign until 2034, per AFL Media's Callum Twomey.

ADELAIDE, AUSTRALIA - APRIL 13: Zak Butters of the Power celebrates at full time during the round five AFL match between Port Adelaide Power and Hawthorn Hawks at Adelaide Oval, on April 13, 2025, in Adelaide, Australia. (Photo by Quinn Rooney/Getty Images)
ADELAIDE, AUSTRALIA - APRIL 13: Zak Butters of the Power celebrates at full time during the round five AFL match between Port Adelaide Power and Hawthorn Hawks at Adelaide Oval, on April 13, 2025, in Adelaide, Australia. (Photo by Quinn Rooney/Getty Images)

The deal consists of a two-year extension until 2028, the off-season when Butters would become eligible for unrestricted free agency. However, the contract also includes a player option, meaning at any time through Butters' two-year deal, he could opt in to committing to a longer contract, one that would extend his contract six more years until the end of 2034.

The offer presented is effectively an eight-year extension for Butters and would mark it the equal-longest contract in the AFL currently, tied with Fremantle's Hayden Young.

"If he signed this deal tomorrow for the full entirety of it, it's the biggest deal in AFL history," Twomey said.

"It's the most lucrative offer that we've seen from a club. That's really the flag in the ground from what this guy's worth from a Port Adelaide point of view... he's not going to be moving for money.

"It's a very, very compelling offer that they've put forward."

Twomey also stated that Butters' contract and free agency status in 2026 mean the club would be unlikely to accept any trade offers for Butters in 2025.

Fellow Power teammate Miles Bergman will also be faced with a contract decision this season as he too weighs up a move back to Victoria, while defender Kane Farrell turned his back on rival offers to sign a multi-year extension in March.