MELBOURNE is out of the race for Jamie Elliott, with the small forward whittling his options down to staying at Collingwood or moving to Brisbane.

The Demons confirmed on Monday on the opening day of the Telstra AFL Trade Period that they were informed on the weekend the goalkicker would not be joining them.

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Collingwood is growing more confident he will remain at the club on a two-year deal, but Brisbane has offered three years and he toured the Lions over the weekend.

Lions football boss David Noble said they were still in the hunt for the unrestricted free agent.

"I believe so. We haven't been notified that we're not, so until that happens or until he decides where he wants to go, we think we're in for a chance," Noble said on Monday.

Landing Elliott would give the Lions a deadly double-punch in the forward line, teaming up Charlie Cameron with the high-flying Elliott. Elliott also has family links in Queensland.

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"He's got a brother in Airlie Beach [in Queensland] so he's got a family member close by. I think we presented well and I think he liked what we had to say, and the areas of focus for him and his game and his off-field direction," Noble said.

The Demons had also presented Elliott with a three-year deal but the 27-year-old has rebuffed their interest.

"Jamie Elliott won't be playing for Melbourne, he told us over the weekend. It was an opportunity for us to get involved in that conversation but he's made that decision," Melbourne football manager Josh Mahoney said.

"He didn't go into too much depth about it, he's obviously got a bit of thinking still to do. We thought we put our best foot forward and it was an opportunity for us, but we moved on pretty quick."

Collingwood list manager Ned Guy said the Pies were getting more optimistic that Elliott would stay with the club. He confirmed the Pies' offer was for two years.

Collingwood list manager Ned Guy on the Telstra AFL Trade Radio site. Picture: AFL Photos





"We're waiting. We're very hopeful and growing a little bit more confident, but until we get the green light we have to wait and see," he said.

He declined to elaborate on whether the Magpies have increased the financial element of their offer, and said Elliott doesn't owe the club given his injury battles in recent years.

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"Not at all. We'd like to keep Jamie. Jamie's given plenty back to the club as well so hopefully we can continue that relationship," he said.

Elliott didn't play a senior game in 2018 as he battled hamstring issues, but returned to play 16 games this year, booting 26 goals.

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