Hawthorn has emerged as the frontrunner for Sydney's Ryan O'Keefe after Carlton ruled itself out of contention for the star forward on day one of the AFL's annual trade week on Monday.
O'Keefe - who turns 28 in January - has rejected a new three-year offer from the Swans in favour of a return to his native Victoria where he wants to finish his career.
The Swans are demanding a minimum of a first-round pick in exchange for clearly the best player on offer in this year's trade period with O'Keefe having been nominated for this year's All-Australian team after finishing fifth in the Swans' best and fairest.
However Carlton chief executive Greg Swann ruled his club out of contention on Monday saying there was no way the Blues could satisfy the Swans' demands.
"We haven't got the picks," he said.
While the Blues have pick six in the national draft, the club is refusing to offer that for O'Keefe while the Swans won't accept a second-round pick.
Most clubs are reluctant to give up first-round draft picks this year in what will be the last uncompromised draft before the addition of new clubs Gold Coast and West Sydney, who will receive the bulk of the prized early picks in coming years.
However reigning premier Hawthorn is one club in a position to be able to offer its first-round pick - selection 16 overall - in exchange for O'Keefe, who has played 164 games and who also finished equal second in the Swans' best and fairest in 2006.
Hawthorn list manager Chris Pelchen said the Hawks had 'serious interest' in picking up the disgruntled Swan.
"We did raise his name with Sydney today and we will take that a step further now if we can," Pelchen said on Monday.
"We will talk to Ryan over the next 24 hours and see what we can ascertain from there."
The Hawks also have bargaining power through the number of talented fringe players on their list - headed by key forward Tim Boyle - who have attracted the interest of rival clubs and could be used to sweeten any potential trade for O'Keefe.
"We had about six to eight players whose names were raised (by other clubs) today and we are open-minded on all of them," Pelchen said.
However Essendon could prove a stumbling block in the Hawks' bid to snare O'Keefe, particularly as the Bombers have a player that has attracted Sydney's interest in pacy midfielder Andrew Lovett.
If the Bombers were prepared to offer both their first-round pick - selection five and Lovett - to the Swans for O'Keefe it would likely swamp any offer the Hawks are able to put together.
"He is a super player and has finished up near the top in our best and fairest for the last three years and I think as a starting point a first-round pick would be a fair deal," Sydney recruiting manager Stuart Maxfield said of a possible trade deal for O'Keefe.
But Maxfield said the Swans have not given up hope of keeping O'Keefe.
"Ryan has indicated to us he wants to see a trade in Melbourne but we have still got a great relationship with Ryan and no-one has come with anything formal for him at the moment," he said.
"He has indicated what his intentions are but at the end of the week if nothing has happened we believe we can hopefully keep him on board as a Swans' player."