GIANTS key defender Jeremy Finlayson will explore trade options at rival clubs as Greater Western Sydney moves to avoid a salary cap squeeze next season.

After a highly promising start to 2018, Finlayson, 22, signed a new two-year deal three months ago that bound him to the Giants until the end of 2020.

However, Finlayson's manager, Dave Trotter of Hemisphere Management Group, told AFL.com.au on Friday his client would now canvass options at other clubs after discussions with GWS.

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"Jeremy was told in his exit interview that the club was open to exploring options ahead of the trade period," Trotter said.

"This was unexpected but we will have a look around and if there is something there we will explore it, but if not Jeremy has got two years remaining on his contract and both he and the club are more than happy for him to stay.

"The club and Jeremy will work through things together before any decision is made."

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The Finlayson developments come as speculation rages the Giants have to off-load a star player or two to balance their salary cap ahead of next season.

The expansion club acknowledges its cap is tight after its emergence as a regular finalist in recent seasons, but insists it is in a similar position to several other clubs.

Nonetheless, the futures of Victorian midfielder Dylan Shiel and West Australian tall Rory Lobb remain clouded. It's understood neither player has requested a trade at this stage, but clubs in their respective home states – Shiel (primarily Hawthorn, Essendon, Carlton and St Kilda) and Lobb (Fremantle and West Coast) – are circling with intent.

Talented youngster Will Setterfield, 2016's No.5 draft pick, has also been strongly linked to Essendon, while the Giants will likely explore their options around a number of other players like Finlayson.

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Finlayson graduated from the GWS Academy and was selected with the No.85 pick in the 2014 NAB AFL Draft.

The 196cm defender didn't play at all in his first two seasons, before breaking through to debut in last year's round 15 draw with Geelong.

The silky left-footer played the opening nine rounds of this season and was particularly impressive in the Giants' first four games, when he averaged 22 possessions, six rebound 50s and five marks.

Finlayson was in and out of the senior side in the second half of 2018 after first-year defender Sam Taylor broke into the team, and did not play in either of the Giants' two finals.

However, his 14-game season was still extremely encouraging, while few players his height boast such elite foot skills.