PORT Adelaide could let Zak Butters leave as a free agent to secure a compensation pick and then do trades to maximise the star's departure, according to AFL.com.au's Cal Twomey.

Butters confirmed last month he will leave the Power this off-season, with Geelong and the Western Bulldogs the favourites to secure his signature, while Richmond looms as a "stalking horse" in the race for the superstar.

Port has said it would look to match any offer for the 25-year-old and force a trade to maximise the draft capital it receives in return.

But Twomey believes taking a free agency compensation pick - pick 5 - and then doing a seperate trade with Butters' new club is a live option.

"I'm growing more and more of the view that pick No.5, the free agency compensation pick Port Adelaide would get if Zak Butters leaves as a free agent, will become part of the overall haul the Power will walk out of this year's trade and free agency period holding," Twomey said on Gettable on Wednesday.

"My view is that whichever club it is that Port ends up dealing with, pick No.5 is too valuable a pick to not walk out with.

"I think there is a way that Butters leaves as a free agent, Port gets that pick and then separate trades happen and they work from there to maximise the best result with transparent agreements beyond there."

Twomey said the AFL would closely scrutinise any separate trades between Port and Butters' next club, as the League does with all deals in the trade period. 

"The AFL would of course look closely at those deals, but they look at deals for fair value all the time," he said.

"They also ticked off Gold Coast trading pick No.7 and Jack Bowes for a third-round pick (in 2022).

"So if that's getting ticked off at any point then I think most things probably will."

Butters earned All Australian honours again this year as the brave midfielder averaged 29.8 disposals, 6.2 clearances and 4.2 tackles.