CARLTON list manager Nick Austin hopes the club will be able to facilitate a trade for outgoing midfielder Paddy Dow, as the out-of-favour midfielder looks for opportunities elsewhere.

Dow was on the outside looking in for much of 2022, making only four appearances for the season - two of those coming as an unused medical sub - despite exceptional form at VFL level.

The 22-year-old remains contracted for next season, but is on the lookout for a new home, as the No.3 pick in the 2018 NAB AFL Draft has fallen in the pecking order behind the likes of last year's boom recruits George Hewett and Adam Cerra.

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Austin, who spoke to AFL.com.au's Callum Twomey and Riley Beveridge on Continental Tyres AFL Trade Radio on Wednesday, said the club is still in early discussions with Dow but will do what they can to ensure he finds a new home.

"It's still pretty early. We are in discussions at the moment," Austin said.

"Paddy's a really popular member of our group and he's a fantastic kid. He's got some talent as a footballer.

"(There's been) a lot of transformation, particularly with our inside midfield group. The guys we brought in through trade last year have kind of meant opportunities at AFL level, particularly for Paddy, have dried up.

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"He's a professional, he's an AFL player and he wants to play AFL footy. We are working through some things with him through the exit meeting in the back-end of the year and we've at least tried to help get him opportunities, so we are hoping, for his sake, that there's someone out there that's willing to get that."

Meanwhile, Will Setterfield remains uncontracted for next season and has reportedly garnered interest from rival clubs, namely Essendon, which is looking to add the former Giant to its midfield stocks. 

Austin confirmed the club hasn't had any discussions with the Bombers just yet, but said they'd ideally retain his services for next year.

"We're still working through with Will's management what the future looks like," Austin said.

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"He's a player that's out of contract and it's his right to see what's out there. Discussions are open but it's pretty early in the piece.

"In a perfect world, we'd love to retain Will. We've been pretty clear on that. Again, he's got the desire to play AFL footy and if it's at Carlton or if there's an opportunity elsewhere, then that's something he's got to weigh up."