AFL’s murky memos: League’s sneaky change revealed

The AFL is being accused of making rules on the run after shutting down the proposed Todd Marshall deal aiding Zak Butters’ free agency move to the Western Bulldogs.

Multiple sources at multiple clubs believe the league has changed history by yesterday referencing a 2025 memo it claimed prohibited clubs from trading with top-up payments before or after a free agency exchange in the same player movement period.

Because in that 2025 email, obtained by SEN, the AFL says clubs will only be stopped from doing trades with top-up payments after a free agency exchange has been processed in the same player movement window.

READ: AFL to veto proposed Bulldogs' Marshall trade

Port Adelaide and the Dogs had been working on a top-up payment deal that would have included the Dogs giving up pick 12 and a future first round pick for Todd Marshall, who would then have the bulk of his $800,000-a-season deal paid by the Power until the end of 2029.

Critically, they were working with the AFL on doing that deal before the Butters free agency move was finalised.

In a memo sent to all 18 clubs yesterday, general manager of football performance Greg Swann wrote: “As set out in a memo to clubs dated 26 September 2025, top-up payments will not be approved in relation to a trade between two clubs who have engaged (or intend to engage) in a free agency exchange for a restricted or unrestricted free agent in the same player movement period.”

The 2025 memo actually reads: “Top-up payments will not be permitted in relation to a trade between two clubs who have already engaged in a free agency exchange for a restricted or unrestricted free agent.”

The “(or intend to engage)” wording has been inserted into the memo’s top-up payments chapter since last year.

The change is critical because clubs were operating on the belief that trades with top-up payments could be agreed upon BEFORE free agency moves were processed, as the 2025 memo suggests.

Well-placed sources have also claimed the AFL was actually working with the Dogs and Power for months on a number of options - including the Marshall trade – with the understanding both clubs had intended to table that deal before the Butters free agency move was processed.

Butters’ move to the Bulldogs will trigger a No.5 pick as compensation for Port Adelaide under free agency rules, but the Power are pushing for a bigger bounty.