ANGUS Monfries is now a Port Adelaide player, with the half-forward agreeing to a four-year deal to join the club.

Monfries, who played 150 games at Essendon after making his debut in 2005, knocked back the Bombers' two-year offer.

Damian Barrett of AFL.com.au's Gillette Trade Radio reports Monfries will receive a deal worth around $1.6 million from the Power.

The Bombers received the Power's third-round pick at this year's NAB AFL Draft (No.48 overall) in a trade for the 25-year-old.

It is a good result for Essendon, after it lured St Kilda free agent Brendon Goddard to the club last week.

If Monfries had left the club through his restricted free agency status, Essendon would not have received any compensation because of the net gain of Goddard.

Coach James Hird said it was sad to see Monfries leave the club, and that Monfries had accepted a more lucrative deal.

"At the end of the day Angus had an offer in front of him that we believe truly reflected his position at Essendon, but he has made a decision to secure his financial future and we have to respect that," Hird said in an Essendon statement.

Port Adelaide has regained some of the loss it sustained last week when Danyle Pearce and Troy Chaplin left the club, by trading for the Essendon small forward.

Port is also interested in Melbourne defender Jared Rivers and Carlton half back flanker Jordan Russell

Monfries, a restricted free agent, was expected to join the club via free agency.

By trading for the 25-year-old, Port retained its compensation picks it received when Pearce joined Fremantle and Chaplin joined Richmond last week.

Under free agency rules, clubs would receive compensation picks from the AFL when they lose more free agents than they gain in a single transfer period.

As compensation for losing Pearce and Chaplin, the Power could expect at least a second and third-round NAB AFL Draft pick.

The club is reportedly keen on 25-year-old Carlton free agent Jordan Russell and could now lure him home without losing those picks.

Port Adelaide football manager has indicated Monfries could see more time in the midfield at the Power.

"Angus is a player with great character who has been shown to have a really good record of durability throughout his time at Essendon," Rohde told portadelaidefc.com.au.

"He will bring us flexibility, too, because although he's played most of his AFL football as a forward, we can see him getting regular opportunities and performing to a high standard in our midfield as well as going forward.

"Angus was very highly rated when he was first drafted and we have certainly always held him in that regard."

Monfries said he was excited to return to Adelaide, where he grew up and won an under-17 SANFL Grand Final with Pearce playing for Sturt, before joining the Bombers at pick No.14 at the 2004 NAB AFL Draft.

His parents and younger brother still live in the City of Churches.

"I've loved playing for Essendon and I sincerely thank everyone there for the opportunities they've given me," Monfries said.

"I'll miss Essendon, but it will be great to come home and play in front of my family and friends and help Port Adelaide get back to where it wants to be. That challenge is a big part of the appeal for me.

"I am someone who likes to get the best out of themselves and coming to Port Adelaide, I'll work to get more opportunities to do that.

"I think I can play a number of roles. I can play up forward but I am confident that I can push up into the midfield and get more involved in games."

Monfries' manager Nigel Carmody said opportunity was a big part of the Bomber veteran's decision to move.
 
"He was really keen, with 150 games under his belt, to try and see how far he can take himself as a player," Carmody said.
 
"Port Adelaide have presented an opportunity to him, that looks like he'll spend some time in their midfield.
 
"He's very keen to see just how good an AFL player he can be and he'll get that chance at Port."

Meanwhile, Port  has confirmed its interest in Melbourne defender Rivers and Carlton half back flanker Russell, but the club believes the experienced Demon is likely to remain in Victoria.
 
The Power sees running players, a small forward and support for their backline following Troy Chaplin's move to Richmond as priorities in the trade and free agency period, as well as in the draft.
 
The Power's general manager of football Peter Rohde said they had enquired about Rivers but believed he was "pretty keen to stay in Melbourne" while Russell was one they had "some interest in" but were willing to wait "until later in the process" to explore the option further.
 
He also said the Power believed Ben Jacobs and Matt Thomas - who is keen for more time in the midfield - would remain.
 
Jacobs met with new coach Ken Hinkley on Sunday and was encouraged by what he heard.

Harry Thring is a reporter for AFL Media. Follow him on Twitter: @AFL_Harry.