The impending salary cap squeeze facing Sydney is beginning to pose some big headaches for their list management team.

After Luke Parker re-signed on four-year deal earlier this week, the Swans have now turned their attention to several other guns they risk losing.

Former Pick 5 in the 2019 draft, Dylan Stephens, is reportedly 'assessing' his options and won't be short of suitors.

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Fox Footy'sย Tom Morris has reported toย AFL Tonightย that Essendon has now joined Adelaide in the race for the highly-rated 20-year-old.

Drafted as a classy left-footed midfielder who could play both on the wing and on the inside, Stephens has struggled for game time in the Sydney's deep line-up. After only managing only six games in 2021, rival clubs believe the youngster is now looking for more opportunities elsewhere.

โ€œThereโ€™s definite interest from Adelaide, thereโ€™s also interest from Essendon. If you remember back 12 months ago, Essendon were successful in poaching Jye Caldwell from the GWS Giants two years into his career โ€“ a first-round pick,โ€ Morris said.

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โ€œTheyโ€™re looking to do the same again, this time with Dylan Stephens. The recruiters Iโ€™ve spoken to today, not at the Swans, they believe his best position is an outside midfielder more than an inside midfielder.

โ€œHe was starved of senior opportunities this year, he clearly wants to have more senior opportunities. Itโ€™s just whether he feels thatโ€™s going to be at the Swans, where a two-year deal is on the table, or at Essendon. Watch this space with Dylan Stephens.โ€

The Swans will also have to fight to re-sign the talented Jordan Dawson with rival clubs circling the 24-year-old.

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Dawson has enjoyed a break-out season in 2021, highlighted by playing in every game for the Swans. His classy disposal and rebounding off half-back has the two Adelaide-based clubs desperate to lure the 24-year-old back home to South Australia.

โ€œThere was a time a couple of weeks ago when there was a belief he was going to stay at the Swans. That has now flipped,โ€ Morris said.

โ€œBoth clubs feel like they are, to varying degrees, in with a chance to get him. They presented long-term offers on good money. The Adelaide Crows, especially, have money to spend.

โ€œIf he does ask to be traded to Adelaide โ€“ and that is a big if โ€“ the Crows are quietly confident they wonโ€™t be parting with Pick 4 โ€“ and that could lead to a very tense and interesting deliberation between the Swansโ€™ list management team and Adelaide, if it does get that far.โ€

Sydney also face losing hard-bodied midfielder George Hewett with Carlton 'leading' in the race to secure the 25-year-old. Contract talks have reportedly stalled with Hewett now 'likely' to depart the Swans during the off-season.

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Hewett is among the likes of Callum Sinclair, Sam Reid and Sam Wicks who are also currently uncontracted beyond 2021.

โ€œPlenty to consider for Charlie Gardiner โ€“ the head of football who does most of the list management stuff โ€“ but also Kiner Beetson โ€“ whoโ€™s an experienced recruiting and list boss at the Sydney Swans โ€“ over the next few weeks,โ€ Morris said.

โ€œAs they look to reshape their list ahead of next year, make sure everyone can fit in, but also have a list thatโ€™s capable of making the top four and winning a flag next year.

โ€œThereโ€™s still a few pieces of the puzzle that havenโ€™t been put together yet, and those names are at the very top of the pile.โ€