PHEW! The 2025 trade period is over, which means clubs now turn their attention to next month’s national draft.

But before then, we at least try and make sense of the key moves that transpired over the past fortnight.

Foxfooty.com.au reviews the immediate winners and losers from this year’s trade and free agency period.

Watch every match of the 2025 NAB AFL Women’s Season LIVE ad-break free during play. New to Kayo? Join now and get your first month for just $1.

WHAT’S GAMBLING REALLY COSTING YOU? Set a deposit limit. For Free and confidential support call 1800 858 858 or visit gamblinghelponline.org.au.

TRADE TRACKER 2025: Every deal by every club after frantic deadline

DEADLINE DAY WRAP: Superstar traded, Hawks lodge final offer as BIG names left hanging

WINNERS

ST KILDA

There was no other winner bigger than the Saints this off-season. Things started with a bang as expected, with Tom De Koning and Jack Silvagni signing on as free agents in the opening stages of the trade window. From there, Sam Flanders and Liam Ryan landed at Moorabbin almost seamlessly. Granted, there’s still a lot to play out in 2026 before we can truly label their recruiting heist a genuine success, but the instant expectation is that Ross Lyon’s side contend for finals straight away. The loss of Jack Steele is definitely a dent in their leadership ranks, however the Saints were the ones who initiated him to seek opportunity elsewhere.

GOLD COAST SUNS

There may not have been as much noise around the Suns this off-season, but boy have they done it again. First and foremost, they’ve landed Christian Petracca as their number one recruit. Add in their free hit on Jamarra Ugle-Hagan for Pick 74, AND the fact they’ve (more than likely) maintained enough points to match bids on their two young gun Academy players in the draft, and they are massive winners. The only question mark will now come over the loss of depth on their list. All of Malcolm Rosas Jnr, Sam Flanders, Ben Ainsworth, Connor Budarick and Brayden Fiorini have departed the club for greater opportunity elsewhere, and while none of them are out and out stars, a bad run with injuries could test them.

ESSENDON

Yes! The Bombers are both winners AND losers this trade period. For all the draft capital they turned down to keep their captain Zach Merrett to his contract, they have avoided being the biggest “train wreck”, according to Fox Footy reporter Jon Ralph. “This could’ve been footy’s greatest train wreck. They could’ve lost four or five of their senior players, including their captain, (Jordan) Ridley, (Darcy) Parish, (Kyle) Langford … and instead right now, they’ve got 12 months to reset,” Ralph told Trading Day. They’ve got an elite fitness and strength and conditioning program in. I think so much of the next six months is: “What have you got for us Brad Scott? What have you got for us to make other players into the Archie Roberts’ of the 2026 season? Where is (Archie) Perkins at? Where’s Tsatas at? Where’s Ben McKay at? … There are so many players there who come into this team and look like they have some talent and they either stagnate or regress.” The Bombers also recruited Suns ball-winner Brayden Fiorini for a future third-round pick, which obviously adds to their midfield depth.

NEW SOUTH WALES (!)

This is the softest of ticks to both GWS and Sydney. The Giants essentially fell their way into a net positive when they retained Leek Aleer due to St Kilda’s retracted interest in the key defender, amid Clayton Oliver being told by Melbourne to find a new home. Both were far from expected to be at the club two weeks ago, and now, they have both at next to no cost! As for their cross-town rivals the Swans, they have got their hands on a much-needed superstar key forward in Charlie Curnow. They made no moves last year and it proved costly, so now they’ve been forced to overpay to get their man. Parting with all first-round picks across the next three years is a massive risk, but Curnow has the potential to make it all worth it inside 12 months. The expectation in 2026 for both clubs from New South Wales is clear — go deep into finals!

“It’s a big reset!” Curnow leaves Blues | 02:26

LOSERS

ZACH MERRETT, HAWTHORN AND… ESSENDON!

There the not one, not two, but THREE losers in all this. First and foremost, Essendon’s skipper will understandably be absolutely devastated. His attempt to exit Tullamarine was the most aggressive of any player across the AFL landscape, and it ultimately went in vain. No one for a second will question his ability to come back into the Bombers’ environment professionally, but some players may struggle to follow his lead in the way they once did. As for Essendon, time may prove the decision to not trade Merrett as a mistake, given how much the Hawks were willing to pay up. Most will believe Hawthorn couldn’t have realistically offered any more than what they did, but their list personnel may be up late the next few nights thinking what could have been. Is their off-season one to remember with other clubs when it comes to putting all your eggs in one basket?

WESTERN BULLDOGS

What on earth has happened here? Arguably the club with the most well-documented void to fill this off-season was the Bulldogs, who were a key defender short for almost the entire 2025 season. Yet come the end of the trade period, their deficiency hasn’t been improved in the slightest. Their decision to not pursue Steven May continues to baffle many AFL insiders, after the premiership Dee was told to explore his options by new Melbourne coach Steven King. Young tall Jedd Busslinger didn’t look to move the needle a whole lot with Dogs coach Luke Beveridge. So, where to now? Sam Frost now sits as their best alternative to pursue as a delisted free agent, and while foxfooty.com.au understands there is preliminary interest in the three-club player, will he be ‘The Difference’? Time will tell, but they’re now officially running the gauntlet. For the second year straight, they find themselves on the losers list.

GEELONG CATS

Geelong and losing a trade period is not something we often say in the same sentence. Their inability to land Rowan Marshall in reality wasn’t through fault of their own, with Pick 19 and a future second-round pick more than fair for the Saints ruck. Rightly or wrongly, St Kilda remained stubborn in their approach to keep Marshall. As for Charlie Curnow, the Cats’ hands were tied. Partly by their own doing though, given their unwillingness to throw their own players into trade dealings. That ultimately worked against again given Sydney’s openness to trading Ollie Florent and Will Hayward for the dual Coleman Medallist. On a positive note, they did bring in James Worpel as a restricted free agent from Hawthorn — but ultimately, neither of their two biggest trade targets landed in their arms this off-season.

ADELAIDE CROWS

In one of the more disappointing non-deals of deadline day, the Crows were unable to get a trade done for number-one target Cal Ah Chee, who had been heavily linked to the club and requested a trade to West Lakes at the start of the month. Ah Chee is still expected to get to the Crows in the pre-season draft, but it would’ve been a frustrating deadline day for the club’s supporters. Despite Ah Chee’s off-contract status, Adelaide wasn’t able to meet Brisbane’s demands in a trade, with Lions list boss Dom Ambrogio stating post-deadline: “At the end of the day, they chose to put forward the offer they chose, and it didn’t meet our needs.” It was said the Crows offered future second and third-round picks to Brisbane, which was steadfast on asking for a first-rounder. Otherwise, Adelaide acquired former North Melbourne tall Finnbar Maley in a curious addition that seemingly came from nowhere. Maley showed promising signs at the Kangaroos as a key forward prospect who competes well in the air, but he’s far from a needle-mover for the Crows and is unlikely to be a best-23 player in the short term. Going back a little further, Adelaide fell out of the running for Christian Petracca, who would have been a tremendous midfield-forward addition to Matthew Nicks’ side. Adelaide also inquired about Ryley Sanders’ availability, but that was quickly shut down by the Western Bulldogs. Overall, for a club looking to elevate itself in preparation for another premiership tilt in 2026, the list department’s action — or lack thereof — wouldn’t have inspired a massive amount of hope going into next year.

— Jack Jovanovski