The Cats were believed to be weighing up a move for the veteran forward on Tuesday afternoon behind a push from former teammate Patrick Dangerfield, while coach Chris Scott and list boss Stephen Wells slowly coming around to the idea.
The 30-year old is prepared to take a pay cut on the final two years of his deal to move clubs, which is $500,000-$600,000 per season.
The Crows are also willing to pay a part of his wage, meaning Geelong might only need to pay him as little as $200,000 a year while only trading a late pick to acquire him.
“Geelong is weighing up a pursuit for Josh Jenkins. He’s got a million dollars left on a two-year contract,” Cleary told Telstra AFL Trade Radio.
“He’s put his hand up and said he is willing to take a pay cut. The Cats are also willing to do a deal with the Crows that sees them pay a portion of that wage.
“They could be paying as little as $200,000 of Jenkins’ wage for the next two seasons and a large part of this is former teammate Patrick Dangerfield getting in the ears of the Cats officials and I think they might be coming around to it.”