IN-FORM Melbourne swingman Tom McDonald is comfortable with where discussions on a new deal are placed, but says there is still plenty to play out before he inks a new contract.

The restricted free agent is playing the best football of his career as a mobile forward, with the Demons maximising his talents in roles on the wing and inside 50.

McDonald said he and his manager, Alex McDonald from Hemisphere Management Group, would continue to discuss terms with the Demons' list management team and hopefully come to an agreement soon.

McDonald, like younger brother Oscar, falls out of contract at season's end.

"I've been speaking to the club. We're going back and forth and haven't got a deal in place yet, but I've been speaking to the club and trying to work something out at the moment," McDonald said.

The 25-year-old booted four goals from 20 disposals to help power the Demons to a 109-point thrashing of Carlton on Sunday, and he has kicked 13 goals in four matches since returning from a foot injury in round six.

Asked whether his market value would increase as a result of his hot form, McDonald was typically measured in his response.

"I don't think one game changes much. I've been playing football for Melbourne for seven years, this is my eighth year, it is what it is," McDonald said.

With McDonald qualifying as a restricted free agent, Melbourne would have the option of matching opposition offers for the key forward if they did come.

However, given his versatility and dependability, his value to the team has risen considerably this season and would be a highly-sought after player.

His accuracy in front of goal – McDonald has now booted 13.2 for the year – makes him someone a team can rely upon.

Demons coach Simon Goodwin said it was significant that McDonald was eager to stay and hopefully relish the success the club was building towards.

"He's a great Melbourne person. He's been at this club for a long time. He's been through some tougher times, but as I said there's still a lot of work to be done and Tom's an important part of that," Goodwin said.

"But to have that sort of person at your footy club who wants to be part of it is important to us."

McDonald had operations on both of his ankles at the end of last season and, as a result, he had a limited pre-season that kept him from reaching his peak.

A foot injury that flared after the JLT Community Series in March then delayed his start to the season proper, with the Demons taking him out of training for a six-week period.

However, McDonald, regarded in the top three at the club for aerobic fitness, feels like he is starting to get back to his physical best.

"The first two weeks I battled a little bit, cramping at the end of games," McDonald said.

"The last two weeks I'm back to running out games like I used to."