Collingwood trio Jaidyn Stephenson, Tom Phillips and Adam Treloar all look part of the club's latest "fire sale" as they aim to fall under the salary cap, with the latter reportedly informing his teammates of his imminent departure, per Fox Sports.

Despite Treloar's desire to remain at the Holden Centre, the gun midfielder's relationship with the club is now decaying as the days pass.

News broke last week of Collingwood's inclination to move on Stephenson, while Hawthorn have reportedly shown interest in Phillips following Isaac Smith's move to Geelong.

Speaking on Collingwood's move to offload several key names,ย Fox Sports'ย Jon Ralph said the club's latest decisions were "extraordinary".

โ€œI think theyโ€™re in real peril in regards to that (their salary cap),โ€ Ralph told Trading Day.

โ€œQuite clearly it is apparent right now itโ€™s not just about them securing rival players that they would bring in โ€“ whether it was going to be Jeremy Cameron โ€“ that itโ€™s effectively if โ€˜we donโ€™t get rid of those players right now we canโ€™t get under the salary capโ€™.

โ€œI think itโ€™s extraordinary. When youโ€™re in that window, everything is fine when you win the flag. But if youโ€™re not then you just have to get rid of players in a fire sale.โ€

North Melbourne champion David King said the Magpies have made a "massive error".

โ€œItโ€™s easy to just purge these players, โ€˜oh weโ€™re not going to pay him this, weโ€™re not going to do thatโ€™,โ€ he said.

โ€œClearly theyโ€™ve paid or rewarded their players at whatโ€™s perceived to be market value, which is a massive error when youโ€™re trying to keep a group together. You always take 20 per cent less to keep the core group thatโ€™s gone to a Grand Final together for a sustained period to try and go back to the well and win one.

โ€œThey havenโ€™t done that and now itโ€™s costing them two or three players along the way.โ€