Rumours emerged earlier this week more than one club offered Naughton a 10-year deal with West Coast also linked to the key forward.

AFL journalist Tom Morris was on Thursday the first to unmask the Swans as the biggest threat to the Bulldogs, tabling a reported 10-year deal worth more than $11 million.

Morris said on SEN Collingwood and Geelong also showed some interest.

“The Sydney Swans expressed an interest.” According to my research, the Sydney Swans offered upwards of $11 million over ten years.”

“I was told it was $12 million, which I’ve had denied, but I believe it was more than $11 million over ten years that the Swans were willing to offer.”

“It would have been (the biggest contract ever).”

The Swans have recently shown little fear in committing to long-term contracts, with Nick Blakey signing a seven-year contract extension that keeps him with the club until at least 2031.

The Swans are also expected to acquire Brodie Grundy from the Demons during this transfer period, after the ruckman sought a trade to Sydney last week.

The 29-year-old has reportedly already met with Swans officials and could be one of the first players to officially move clubs when the trade period opens next week.

When Grundy moved to Melbourne 12 months ago, Collingwood agreed to continue to pay a portion of his contract – around $350,000 per year until his deal expires in 2027 – to give the club some salary cap relief.

The Swans appear to have more cash to burn after failing to sign Naughton.

The lucrative Naughton offer demonstrated why the Bulldogs were forced to act quickly.

“The Dogs’ hands were tied, they had to (offer him a long-term deal),” says Adam Cooney on SEN Sportsday. What are the Western Bulldogs meant to do when a 10-year deal is on the table somewhere and multiple clubs are interested?”

Melbourne champion Garry Lyon suspected a rival club was involved in the Bulldogs’ huge transaction.

“I’m not familiar with the Western Bulldogs or how they operate, but I’m presuming he had 10-years on the table from someone else… “That’s how I read it and my take on it,” Lyon explained to SEN Breakfast.

Kane Cornes has been an outspoken critic of all clubs gambling on long-term contracts, and he has slammed the Bulldogs for their offer to Naughton.

“This is about how you get better as a footy club – and I’m just not sure how this makes you better,” Cornes said on AFL Trade Radio.

Cornes pointed out that Naughton ended equal-12th on the Coleman Medal table this year, with 44.33 points from 23 games.

“Is he a top-10 forward in the league right now? These are the forwards I’ve got ahead of him currently: (Charlie) Curnow, (Jeremy) Cameron, (Nick) Larkey, (Taylor) Walker, (Tom) Hawkins, (Joe) Daniher, Oscar Allen, Mitch Lewis, I think Jamarra (Ugle-Hagan) has gone past him and Tom Lynch when he’s fit. Now that’s just right now, not considering age and upside and all of that,” Cornes said.

“And then he’s in the mix with the likes of Max and Ben King.

“Is Jesse Hogan a better player than Aaron Naughton. These are the types of things you’ve got to look at as a footy club. Can we get 45 goals from someone else on a two-year contract that’; s going to cost you half the price? That’s what Collingwood have been so successful at.

“It’s just a huge price to pay and I just think committing such a big portion of your salary cap to a player who, yes is a good player but hasn’t reached the heights that he would’ve liked to. And then there’s the durability factor. Every time I watch Aaron Naughton play, I feel like he’s one marking contest away from a serious injury … what’s that going to look like in five years time, let alone nine?

“We’ve seen these deals go sideways. He’s not Buddy Franklin, he’s not Dustin Martin – and I would only be giving those deals to the likes of the players.

“I just don’t see a way this works out for the Western Bulldogs.”