IF NORTH Melbourne's bid for Josh Kelly fails, it should throw all its recruiting chips into November's NAB AFL Draft.

North has approached this year's upcoming player exchange period like a Shane Mumford tackle – head-on and full-bore.

First, there was the nine-year, $10 million offer to GWS midfielder Kelly, then an equally mind-boggling offer to Richmond superstar Dustin Martin that ultimately ballooned to $10.5 million over seven seasons.

It was a red-hot crack at two of the competition's best talents.

After Martin turned North down on Thursday, his manager, Ralph Carr, admitted the Brownlow Medal favourite had been leaning towards an Arden St move just a week earlier.

And if not for North dangling their life-changing offer under Kelly's nose, he would have re-signed with the Giants before the start of the 2017 season.

But if, as seems increasingly likely, Kelly recommits to GWS at the end of the season, North should resist any temptation to throw its unspent millions at the next best available players.

Tom Rockliff, 27, and Steven Motlop, 26, while among this year's few remaining big-name free agents, will probably be on the wane by the time North's list is ready to contend again. And uncontracted stars Jake Lever and Devon Smith have already been strongly linked to other clubs.

Second-year Giant Matt Kennedy would be a handy acquisition for the Roos, but the draft appears their best means of building an elite list that can surpass the preliminary final teams of 2014 and 2015.

North holds pick No.4 this year, its earliest pick since 2009 when it took Ben Cunnington with pick No.5.

North should invest that in one of this year's best midfield prospects – most likely one of Cameron Rayner, Luke Davies-Uniacke, Adam Cerra, Paddy Dow or Darcy Fogarty.

It also has another handy selection in pick No.21 and should explore ways of bringing in another top-20 pick.

Todd Goldstein is almost certain to be put for trade, but it's unclear whether the 2015 All Australian ruckman would still command a pick in that range. If not, all other options should be considered – and that includes deals for stars like Robbie Tarrant and Ben Cunnington.

North's focus has to be on its long-term future rather than the next two or three years.

A proposed trade should not be discounted because, at first glance, it feels like an act of Shinboner treason.

If it could help the Roos lay the elite talent base they need to contend for their fifth premiership, it must be pursued.

North was bold in its pursuit of Martin and Kelly, trading one of its stars would be just as bold.