St Kilda has promised to be big movers this off-season, understanding the general consensus that Ross Lyon's side overachieved in 2023.
Carlton's list manager Nick Austin has acknowledged the expected departure of Dow as discussed in his end of year exit meeting and the focus has shifted to what the Blues get in return.
"We'll work with St Kilda, we're just after something we can use in the future", Austin told media at the beginning of the trade period.
St Kilda's list manager, Steven Silvagni also addressed the press and spoke on where the two parties sit in regards to the wantaway Blue.
"I had a discussion with Nick Austin on the weekend and we've got something in place right at the moment which we're happy just to sit on," Silvagni revealed.
"We just wanna see what happens through trade week. We're both pretty confident we can get that deal done," he added.
Talks of a potential swap involving injury-plagued Saint Nick Coffield were watered down somewhat, with Silvagni highlighting, "I think Nick (Coffield has) finished top five in best & fairest, I don't think Paddy Dow's done that"
"We're open to anything but at the same time we've got to make sure that what we bring into our club is going to add to our group," the full-back of the century emphasised.
Gresham has officially nominated Essendon as his club of choice, while St Kilda are currently left seeing what free agency compensation they can claim in return.
Essendon list manager Adrian Dodoro voiced his optimism on acquiring Gresham, all the while acknowledging St Kilda's ability to match whatever is offered.
The potential for a swap involving Dylan Shiel looks unlikely to go ahead after Dodoro established his clubs' belief that Shiel is a "required player" at the Bombers.
For Henry, Fremantle are said to be asking for a top-10 draft pick, a request that Silvagni hasn't granted "any chance of happening."
On Henry's status, Silvagni said "We (St Kilda) have obviously got some players going out that I think are around about the mark where Liam is"
"We just need to wait and see what the market's telling us what those types of players are worth."
With little recognised value on Jack Billings' signature, the Saints may resort to keeping the former top-three pick on their list with two years still left to play out on his contract.
So far, St Kilda's draft hand remains as picks 12, 33 and 54 in the upcoming National Draft.
While potential changes to this hand are possible, it is worth looking at the notable options with their first selection, starting with 198cm key post player, Connor O'Sullivan.
As a projected top 10 pick according to Cal Twomey's phantom draft for AFL Media, this pick has potential should he slip down the order.
Other options include Sandringham key defender Ollie Murphy, projected 13th in Twomey's mock draft, outside midfielder Caleb Windsor from Eastern Ranges or Murray Bushranges mid/forward star Darcy Wilson as a Jade Gresham replacement.
Further updates and moves will unfold as the trade period heats up in the coming days.