CARLTON is expected to announce young midfielder Marc Murphy as its new captain at a press conference on Wednesday morning.

The Blues are scheduled to hold a press conference at 10.20am at Visy Park where it is believed Murphy will be confirmed as Chris Judd's successor.

Fairfax reported on Wednesday that Murphy, 25, has been selected over 29-year-old Andrew Carrazzo because of the Blues' desire for a "next-generation leader".

The Blues announced a five-man leadership group in December after Judd stepped down consisting of Murphy, Carrazzo, Kade Simpson, Jarrad Waite and Nick Duigan.

The new group was elected by the players and saw Murphy, Carrazzo, Simpson and Duigan tried as captains during the NAB Cup.

Murphy, a 142-game midfielder, will lead the Blues for the first time in an official capacity on Friday night in the pre-season competition's Grand Final against the Brisbane Lions at Etihad Stadium.

Carrazzo's two-year contract extension was announced on Tuesday, which sees the 154-game player locked in until the end of 2015.

News Limited reported on Wednesday the Blues were also getting close to formalising a new deal with free agent Eddie Betts.

Heath Scotland, the club's only other free agent, is reported to be happy to play out most of the year before looking at his own contract situation.

Marc Murphy is a midfielder in NAB AFL Fantasy. He averaged 101.31 points in 2012. Register your team at our AFL Fantasy Hub .