Port Adelaide have told North Melbourne that any deal for midfielder Jared Polec will have to involve the Kangaroos' first draft pick.

In a recent discussion between the clubs, Port Adelaide are understood to have suggested to North Melbourne that Polec would only be traded if that deal involved North's first pick, which would be pick nine on current ladder positions, without including the compensation pick Gold Coast would get for the departing Tom Lynch.

Port Adelaide will not let Jared Polec walk away cheaply. Credit:AAP

Polec is viewed as likely to leave the Power and join North on a five-year deal, believed to exceed $600,000 a season, an offer that is significantly greater than Port's three-year offer of close to $500,000.

St Kilda also have made a similarly hefty long-term offer to Polec.