Essendon legend Tim Watson says clubs should be permitted to sign first round draft picks for as long as four years.

Currently, draftees are given two year contracts, but with the growing list of young players leaving clubs as soon as their first contract ends, Watson says more must be done to help clubs retain young players for longer.

“If you take somebody as an early pick you should be entitled to have a hold over that particular player for a period of time, I think four years,” Watson said on SEN Radio on Wednesday morning.

“If you make an investment in a young guy, you’re using a valuable pick, then you should have a hold on that particular player – any first round pick.

“In the NFL if you take a player I think it’s four years, you have that player for four years…and that’s what you do.

“That player actually gets paid really well, so there’s a higher payment scale for those early picks, but with that goes the fact that you have to be committed to that club for a period of time.”

Watson's comments come after reports emerged this week that Brisbane's former No.2 draft pic, Josh Schache, will make his mind up up about his playing future by the bye round, after only two season at the club.

Schache's manager, David trotter, has reportedly been shopping his client around for $3.5 million over five years. While he has denied those rumours, there is no doubt the key forward will fetch a high price on the open market if he is available at season's end.