Catch up with all the news and rumours at the NAB AFL Trade Hub
Who's up for grabs? Check out the latest list of free agents
Find out who's going where FIRST on Trade Radio

ESSENDON and Port Adelaide are considering a left-field strategy to complete the Paddy Ryder trade that would involve making the tall Bomber a free agent.
 
As Port continues to struggle to put together a deal to satisfy the Bombers, AFL.com.au understands the two clubs approached the AFL to investigate whether Ryder would become a free agent if he and Essendon mutually voided his existing contract that runs until the end of 2016.
 
Under this scenario, like any club that loses a free agent, Essendon would receive a free agency compensation pick based on the length and value of the contract offered to Ryder by Port and his age (26).
 
Given Ryder is at the peak of his powers and would almost certainly join the Power as one of their highest-paid players, the Bombers would receive a compensation pick after their first pick in this year's draft, their end-of-first-round selection, No.20 overall.

Late on Wednesday, Essendon’s general manager of football operations Rob Kerr confirmed the club was investigating the unusual idea.
 
"On Monday after trade discussions, it was apparent that Port 
Adelaide were not prepared to offer a deal that would satisfy Essendon from a trade perspective. In discussions with another club the issue of compensation picks were raised which later led us to contemplate whether a contract that was in place could be annulled, along the lines of Nick Dal Santo last year, to generate a free agency compensation pick,” he said.  

"Essendon approached the AFL on Monday to get an understanding of whether that was possible. The only circumstances in which the club would contemplate this would be if Port Adelaide agreed to a further deal which would complement the generation of an end-of-first-round compensation pick. 

“The situation remains that Essendon wants fair compensation for Paddy, who has unarguably just had the best year of his career and as this scenario demonstrates the club is open to explore all possibilities but the outcome must ultimately be of benefit to the club."
 

AFL.com.au understands the AFL discussed this free agency option with Essendon and Port in theory and advised that it was a course of action open to Essendon.
 
The Power have already offered pick No.17 to the Bombers and, as is the case with all free agents, Port could not package this pick with any free agency compensation to satisfy the Bombers.
 
If Ryder joins Port as a free agent, Port would have to receive fair and reasonable compensation from Essendon via a player or picks if it still sought to trade pick No.17 to the Bombers.

Potentially, Essendon would end up with picks 17, 20 and 21, but lose Ryder and another player deemed worthy of pick No.17.
 
There was a precedent for the proposed Ryder free agency ploy last year, when St Kilda and Nick Dal Santo agreed to void the final year of the midfielder's contract, which had been triggered when he passed a medical test.

The Saints received a second-round compensation pick (25) for Dal Santo.
 

It is understood that in St Kilda and North's early talks on Dal Santo the Saints raised the possibility of North throwing in its second-round pick in addition to any free agency compensation it received for Dal Santo.
 
This is not permitted under AFL rules, but North subsequently traded full-back Luke Delaney to the Saints at the seemingly discounted price of a fifth-round pick, which the Roos did not use.
 
If the Bombers decide to make Ryder a free agent, they have until the close of the free agency period at 5pm on Sunday to do so.