Hawthorn have said goodbye to Mattea Breed and Lou Stephenson, but are yet to say hello to AFLW star Tayla Harris.

The Hawks sent off rising midfield star Breed to Collingwood in exchange for picks No.22 and 28 on Tuesday, while Stephenson heads to the Western Bulldogs as part of a four-club trade.

Whether they land Melbourne premiership player Harris ahead of the Wednesday trade period deadline remains to be seen, with the Demons offering a new contract to the high-profile forward.

Hawthorn were leading the race ahead of Collingwood for Harris before pulling out of the six-club deal involving Melbourne teammate Lily Mithen's move to Gold Coast.

The four-time All-Australian's move to the Hawks largely depends on the club giving up their No.14 pick to the Demons, who have already secured No.2 and No.20 from the Suns.

Also part of the four-club trade, Hawthorn received Adelaide premiership player Najwa Allen while GWS got Bulldogs defender Eleanor Brown and Crow Taylah Levy.

Breed will be a welcome addition to the last-placed Magpies, who hope the Northern Territory product can form a devastating partnership alongside star midfielder Bri Davey.

Joining Collingwood on a two-year deal, Breed averaged 13.6 disposals and a total of 50 clearances across 2024.

The 23-year-old further impressed after finishing as a finalist for the mark-of-the-year award. "Mattea provides great drive through the midfield and staying ahead of the ball, impressing in the contest and her attacking ability," Collingwood women's football boss Jess Burger said.

Also on Tuesday, Adelaide traded pick No. 39 for former Rising Star award winner Hannah Ewings, while Sydney gave away Montana Beruldsen to Richmond for Imogen Brown.

WHO GETS WHAT IN THE FOUR-CLUB TRADE:

* Hawthorn: gets Najwa Allen, gives Lou Stephenson

* Western Bulldogs: gets Lou Stephenson and pick No.48, gives Eleanor Brown and pick No.43

* GWS: gets Eleanor Brown and Taylah Levy, gives pick No.39

* Adelaide: gets pick No.39 and 43, gives Najwa Allen, Taylah Levy and pick No.48