ZAK Butters has officially informed Port Adelaide he will be leaving the club via free agency.

After more than a year of conjecture about his future, Butters' brilliant career at Alberton Oval is over as it was confirmed on Monday that Port's No.9 would be exercising his free agency rights to return to Victoria this off-season.

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Butters has not yet nominated a club, with Geelong, the Western Bulldogs, Richmond and Collingwood all chasing his services across this year.

All have made club-record offers to Butters, with his move to a rival as hotly contested as any of the major trade moves this century, including Chris Judd's trade from West Coast to Carlton at the end of 2007.

As a restricted free agent, Port can match a bid on Butters and strike a trade. The Power have been adamant they would take that path with the superstar midfielder rather than accept a free agency compensation pick – which would be pick No.5 – under the free agency model.

In a video statement, Butters said he felt it was time for him to move back to Victoria to spend more time with his family and friends after eight years in South Australia. 

"Although I've loved my time in Adelaide and everything the city's given to me and the football club's given to me, I feel like I'm probably at a stage in my life where I'd like to get back around some family and friends and enjoy some more time with them and cherish their moments with them," he said. 

He thanked his coaches, teammates and the broader club for taking a chance on "a skinny kid from Darley that had no shoulders". 

"I'll always be a Port Adelaide person. I'll always value this club and what it's done for me," he said. 

Butters has played 156 games for the Power after making his debut in 2019, with the former Western Jets product an immediate hit at AFL level. He has won three best and fairests and was on track for his fourth in a row this season before his ankle injury ruled him out of the Power's final six games of this season.

Through that time, Butters has also been crowned the AFL Coaches Association's player of the year in 2023 and the competition's most courageous player on two occasions.

The 25-year-old is expected to become a three-time All-Australian this week when the team is named on Tuesday night and he this year stepped in to be Port's interim captain for the majority of the season with Connor Rozee missing with his hamstring injury.

Butters also made attempts to return for a final game with the Power after his ankle surgery late in the season but was unable to get up for Port's last game.