Collingwood's Brodie Grundy and Essendon veteran Brendon Goddard are reportedly both set to sign new deals with their current clubs this week.

Both players are out of contract at season's end, but Grundy is set for a big contract extension, while Goddard's future will be secured for at least one more season.

7 News Melbourne journalist Tom Browne reported both deals on Talking Footy on Monday night, and said Grundy's new contract could be in the realms of $750,000 a season.

"His [Grundy's] manager will meet with Derek Hine (Collingwood's General Manager of List Management) at the Pies this week to finalise a three-year extension worth about $750,000 a year," Browne reported.

The 23-year-old has blossomed into an important member of Collingwood's side, and has played 80 games for the Pies since making his debut in round 18, 2013.

Grundy has increased his games output for Collingwood each season since joining the club, and is on track to play every game in 2017.

At Essendon, Goddard has reportedly triggered an extra year in his contract by completing a clause in his current deal, which will see him extend his time at the Bombers into a sixth season.

Since making his debut for the club in 2013, Goddard has missed just four games for the Bombers, and has done enough this season to extend his current deal by one year.