THE TRADE period is run, done and in some cases won for another year.

But what were the big trends that emerged from the wheeling, dealing and stealing in 2026?

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Here's our list of lessons the trade and free agency window taught us about how clubs are thinking and what the future holds for the landscape.

1. Free agency needs a fix – fast 

The AFL and AFL Players' Association both acknowledge it – free agency needs a fix. The League needs to find a way for the best free agents to consider clubs down the ladder more often, because restricted free agents just don't pick the bottom six teams despite the cash on offer. And the Players' Association has restricted free agency in its sights, with the ability to trade two years in advance meaning that clubs are very willing to match and force trades for the best restricted free agents, like the Bulldogs and Suns threatened with the Zak Butters and Ben King deals. As AFLPA boss James Gallagher told Trade Radio last week on Butters' supposed free agency status: "He's an out of contract, isn't he?" Matt Rowell better be prepared for the same story next year if he chooses to depart the Suns and it's why the likes of Noah Anderson and Tom Green could look at short-term two-year extensions to hit unrestricted free agency at 10 years, when they would still get mega offers but not be contained by the matching process. Clubs weren't happy with the compensation picks given out at the start of the period, particularly Brisbane, Greater Western Sydney, Adelaide and Sydney, and they should be given more insight into what would trigger certain bandings when they are in contract negotiations. Collective Bargaining Agreement talks will rage next year and modernising free agency must be central to it.

2. Tassie's impact is already well and truly in play

So much of what went on in the trade period had to do with the Devils. Clubs protected their early picks this year in deals because they wanted to have one last crack at a pre-Tassie draft. They offered up their 2027 and 2028 picks because they knew they were devalued by the Devils. Adelaide and others knocked back North Melbourne's future pick because of the Devils' influence on the draft, while Richmond used its future hand to buy Port's pick No.5 largely because of the Tassie dilution. Some clubs prioritised keeping a top pick this year knowing they wouldn't get a look at the early parts of the draft for a couple of years. The Bulldogs stocked up on future picks in part because they want to be front and centre when the Devils sell off their four 'must trade' early picks in 2027. Port traded its pick No.5 for an extra first-rounder next year because they need to match early bids and Tassie has already taken seven top talents out of the pool, meaning a bid will come earlier than it would have for its tied players. And clubs are eager to lock in deals for players before they enter next year out of contract with the Devils circling. Tasmania wasn't allowed to be in this year's trade period, having been keen, but its shadow certainly sat above it. Todd Patterson, the Devils' list boss who has a stack of picks he has to trade next year, will be footy's most popular person in the 2027 trade window. If you've got picks, you've got friends and smart clubs are already onto them.

3. Shopping early opens up other opportunities 

Essendon wasted no time in moving past its pair of players who didn't want to be at the club anymore. Day one – the Zach Merrett trade gets done. Day three – the Jordan Ridley deal gets done. The Bombers could have hung out for slightly better deals but both were good trades and gave Essendon chances to get involved in other things, including pick swap opportunities and its chase for Keidean Coleman using its picks in the 20s, one of which came from the Merrett trade. Geelong did the same after it landed the Rowan Marshall deal on the third day of the trade period and by then the Cats had already secured Toby Greene, Ridley and Marshall. Shopping early and seeing what else is out there is the way forward because there are other opportunities that present when clubs have their main work sorted. 

4. The Hawks learned from 2025, too

The Bombers were far less emotional about the trade period this year, having had a year to digest Merrett's move. But Hawthorn also approached the 2026 exchange window clearly having learned from last year's failure to bring in any players, which football boss Rob McCartney acknowledged during the period. This time, the Hawks had made their Merrett offers before the trade window started and upped it on day one to get Merrett on board. They were also in discussions with Gold Coast from a long way out that the Suns would require a player to be involved in a trade deal otherwise the Suns would match a Ben King free agency bid and thwart Hawthorn's whole trade plans. After re-signing Calsher Dear, the Hawks knew they would need to push Aidan Schubert to take up the Suns' interest and that deal was done with a minimum of fuss. Hawthorn comes out of the period a massive winner and one of the premiership hopefuls that has made itself seriously better. 

5. Jaymie Graham has been given a list ready to bounce 

The North Melbourne job just got a lot better. Two days after being announced as the Kangaroos' coach, Graham sat in front of Nick Blakey and told him about his plans for the club. The next day, Blakey was at Arden Street doing a medical and meeting his future teammates. North's eight-year deal worth between $11-12 million, revealed by AFL.com.au last week, turned Blakey's head but North has struck out on big fish targets before but brought the son of two-time premiership Roo John back home. North has decided the time for draft picks is done – it offered four picks but couldn't get Nick Murray done – and it's over to Graham now to harness the talent at his disposal. 

6. All that we're saying is give pick purchasing a chance

The reason Port Adelaide and the Western Bulldogs had to mastermind the convoluted mega trade was because their last plan – a pick purchase trade that was seeing the Bulldogs pay for most of Todd Marshall's salary in exchange for early picks – was knocked back under AFL rules. And that was because the AFL hasn't wanted to open the gates on pick purchasing when it should have years ago. Clubs should be able to buy selections off rival clubs using salary cap space without needing to attach players to deals. Basically, Marshall's name shouldn't have had to be attached to the discussion – the Power could have picked up some of the Bulldogs' salary cap in exchange for picks, because Port wanted picks and the Dogs wanted other players. Give it a chance.

7. Luke Beveridge and the Bulldogs are all in

The Dogs entered the trade period wanting to beef up their list of 22-27 year-olds. Butters, Jordon Butts, Finn Maginness and Hudson O'Keeffe did just that, walking into the Western Bulldogs and making them the busiest club of the period. Credit to list boss Michael Regan for bringing it all together and driving the bus and now the focus turns to making it all work. Luke Beveridge enters the 13th season of his coaching career out of contract but never with a more talented and capable list. His Butters, Marcus Bontempelli and Ed Richards midfield is the envy of all and if Sam Darcy can return from his knee struggles then the Dogs will have every base covered. Butts' inclusion as a deep defensive stopper was a shrewd get given his zero trade cost as an unrestricted free agent. 

8. When it doubt, wait it out

Zak Butters had more leverage than any nearly any player ever. But as he tossed and turned between his preferred club – he admitted to AFL.com.au this week his preferences kept changing at different stages – his chasing clubs all kept coming back with bigger, better and longer offers. Richmond went hardest early but the Western Bulldogs caught up with back-to-back contract upgrades late in the piece as they clinched the nine-year, $18 million deal. Had he committed to the Dogs mid-year, it would have been on a very different deal. Taking his time was not a delaying tactic but it did land him the most lucrative contract in history. It will be interesting if the free agents of next year follow his lead. 

9. Never rule out a captain's call

Last year, Oscar Allen and Jack Steele moved clubs while being captains at their former clubs. Zach Merrett and Jy Simpkin also tried. This year, we have seen even more either current or former skippers make the switch, with Merrett getting his wish a year on, Toby Greene leaving the Giants for Geelong, Scott Pendlebury joining Gold Coast and Lachie Neale leaving Brisbane to become a Magpie. Players have moved with the times and are comfortable making late-career switches and clubs are much more alert to those opportunities as well. Just because someone has been somewhere forever, it hasn't stopped clubs from making those captain calls.   

10. Father-sons and Academy players give clubs different opportunities

The bidding system is tougher than ever before and Port Adelaide (particularly losing Zak Butters) and Carlton will pay the biggest price ever for their tied players this season in Dougie Cochrane and Cody Walker. With Port having draft priorities over a three-year period, Carlton showed the benefits of knowing what is coming through the door via the draft. With a top-line midfield prospect entering in Walker, the Blues knew that part of their ground was sorted. So they got to work on two key priorities in 1) a key forward and 2) a half-back. In Joel Amartey and Lachie Whitfield, the Blues essentially got both of them for a combined trade cost of pick No.25 and some pick slides. Plus, they will add delisted Magpie Wil Parker as half-back depth in the delisted free agency window. Like Brisbane was able to do when it knew it had the Ashcrofts and Dan Annable coming through as premium midfielders, allowing it to sharpen its focus on other areas like key positions (Logan Morris, Oscar Allen and Sam Draper), the Blues got to work and hit their priorities. 

11. Clubs have backed organic growth – who will be right?

Adelaide is backing its improvement to come from within, having not brought in any players after its long but unsuccessful chase of Zac Bailey. St Kilda swapped Marshalls – Rowan went out, Sam came in – but simmered after last year's haul. Fremantle traded Nathan O'Driscoll out but signed a free agent – former Bulldog Dom Bedendo. The Crows are banking on improvement from within and Hawthorn was seconds off playing in a Grand Final after ultimately doing nothing in the 2025 trade period (despite attempts). Adelaide has taken the same path. 

12. There's a trade equalisation concern nobody is talking about

There were 30 players who changed clubs in the free agency and trade period. Of those 30, 24 went to Victorian clubs (either from another Victorian club or a non-Victorian club), while only seven went to a non-Victorian club. It means the percentage of players who moved to a Victorian club was 80 per cent when 55 per cent of clubs are in Victoria. It is a disparity that non-Victorian clubs are aware of but don't like using as an excuse in a player movement market that is clearly made harder for non-Victorian teams to attract and land players as regularly as those Victorian clubs.