A move for the 27-year-old would mean he’d arrive at a fourth club after plying his trade with the Lions, Power and Kangaroos.
With Rhyce Shaw looking to frequently move magnets and limit a salary cap strain, Wallace believes the Demons and Hawks could be the perfect suitors for Polec.
“I think there’s a few clubs (who would want Polec),” Wallace said on AFL Nation.
“I don’t think (the club) necessarily need to be contending, I think Melbourne have looked for outside run and carry and they’ve gone out and got Ed Langdon this year. I think there’s a few clubs that should look at him personally.
“The model that Hawthorn work on is another one. Are they going kids? North Melbourne would be happy to split his (salary) down the middle in order to get something back to head in a direction that they want to go rather than leaving him sitting there running around in the VFL.
“I don’t think you’re going to get a lot for him because people out there are talking about why he’s been dropped for a second time, someone would be perceived to be taking a risk to get him.”
Polec has proven to be a formidable signing for the Kangaroos since arriving at the end of the 2018 season, but looks to be on the cusp of selection in 2020.