The AFL is leading the race to buy Waverley Park from Hawthorn Football Club, in a deal that would keep the former prized stadium as a football facility.

While the deal is not finalised, and other parties have been engaged in the bidding process, three competition sources, speaking on condition of anonymity, confirmed that the AFL had become increasingly keen to buy the ground, as the league recognised the value of Waverley Park to the code.

A deal could be concluded in matter of days between the club and the AFL.

The AFL would have multiple options for using Waverley – it could house the umpires, pathways programs for junior, host games at junior or VFL level and even provide a facility for another AFL club, if there was a sudden or temporary need.

While there was a mooted asking price of $20 million, the eventual deal will be for significantly fewer dollars, according to sources with a knowledge of the bids.

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But it will still represent an incredibly profitable deal for the Hawks, who acquired Waverley Park – formerly VFL Park and the league’s major asset until it was sold – for just one dollar.

And the ground, which has a gym and a training and administration facility, represents a rare opportunity for the league to find that kind of facility, without requiring massive building or works.

The sale was made with a series of conditions, and much of the land developed as housing by Mirvac with the Hawks taking over the freehold on the buildings at their administration and training base which is to replaced by the huge new facility at Dingley, the Kennedy Community Centre.