Sportingnews.com has reported that the Bulldogs may explore their options with Boyd, after poor form and off-field issues have plagued his time at the club since joining from the Giants at the end of the 2014 season.
Carlton and Richmond are said to be the clubs most interested, while Collingwood may also make a play for the 20-year-old.
However, a big stumbling block for any club will no doubt be his huge salary, which is understood to be around $1 million per season.
“The trade price on Tom Boyd has dropped and the number one draft pick is now on offer to any club prepared to take on his million-dollar salary,” the report claims.
Boyd played nine games at GWS after being selected with the No.1 pick in the 2013 National Draft.
He has kicked 21 goals in 18 games with the Dogs.