There is no doubt that Richmond is currently in a transition period.

Following a trifecta of premierships between 2017 and 2020, the Tigers' dip comes as no shock as what goes up must eventually come down.

The question is: how do they turn it around as quickly as possible?

Does the club head to the draft or does it back in the culture to retain key talent that will ideally be a part of the next generation?

Richmond has a unique opportunity in front of them and no one would blame them for going down this path.

But they should tread carefully.

Shai Bolton. Daniel Rioli. Liam Baker. Jack Graham. Dustin Martin.

All stars in their own right and are arguably five of the best 10 players currently at the club.

And yet, all have been linked to moves outside of Victoria.

A report indicated recently that Gold Coast is prepared to offer two first-round selections for Rioli.

West Coast has met with Baker and currently holds Pick 3 in this year's draft, which could be used to lure him to his home state while Fremantle are well within their right to make a play as they bear three first-rounders.

The Dockers are also getting greedy at the expense of Punt Road, looking at acquiring Bolton (despite being contracted until the end of 2028) given their strong draft hand.

Then there's Graham (West Coast and South Australian clubs) and Martin (Gold Coast), who fall under free agency, albeit unrestricted, but would see the Tigers gain some draft compensation potentially around the second or third rounds.

The pair have been linked to rival clubs and could suit needs elsewhere.

In a world that sees all five players leave Richmond, it could result in the club holding seven picks within the first 34 selections (securing two of Gold Coast's and two of Fremantle's picks) while a smattering of later picks could be exchanged.

It could then give Richmond the freedom to trade picks into the future, giving them strong draft hands across multiple years, relying on the recruitment team to drive this proud club back into relevancy.

SEE MORE: 2024 AFL Draft Order

So, is the prospect of bringing in raw talent (through the draft), which will be under new management - both coach and soon-to-be CEO - a path the Tigers should go down?

Or even using said strong draft hands to acquire ready-made talent like they did GWS pair Tim Taranto and Jacob Hopper?

Admittedly, there needs to be thorough consideration when releasing experienced players.

In 2016, North Melbourne went from the oldest club in the AFL to the second-youngest side the following year, making it safe to say the decision to rebuild has failed given its poor standing ever since, which has included two wooden spoons.

At a similar time, Carlton slashed 42 players from their list over three years in a tumultuous time in the club's history, which included a 2018 wooden spoon, before experiencing some consistency and stability in 2022 and 2023, with the latter its first finals appearance in a decade.

There is no guarantee that trading out elite players for picks will work in the long term but should be a consideration nonetheless.

Especially if rival clubs are willing to pay overs on a supposed needs basis.

Think Adelaide's offer to Harrison Petty, offering Melbourne two first-round picks.

That proposition will never rear its ugly head again.

The powerbrokers at Punt Road face significant tasks in 2024 and beyond but should hone in on a definitive assessment of whether Rioli, Bolton, Baker, Martin and Graham are crucial for the club's long-term success.