While the Hawks try to secure their deals, the Western Bulldogs and Port Adelaide will continue pondering how a deal for superstar free agent Zak Butters gets done.
After missing out on Merrett in last year's trade period, the Hawks shopped early to secure the disgruntled ex-Essendon star.
Hawthorn gave up picks No.15 and No.25 in this year's draft, plus a 2028 second-round pick, in exchange for the seven-time Bombers best and fairest and three-time All Australian.
The Hawks, who have lost preliminary finals over the past two seasons, are expected to promptly lodge paperwork for restricted free agent King, with the Suns afforded three days to match their contract offer.
Gold Coast list boss Kall Burns said the Suns would take their time to consider whether to match and force a trade or accept band one compensation, currently valued at pick No.7.
"You've got to weigh up what you can possibly get in if it's a trade," he said.
Young forward Aidan Schubert will tour Gold Coast's facilities after just a year on Hawthorn's list, despite signing a two-year contract extension in June.
A separate deal for Schubert, who the Suns were keen on in his draft year last year, could be what keeps Gold Coast happy enough to accept a compensation pick for King and not force a trade.
"It's someone that we've looked at for a number of years and ... through his draft year, we thought he'd be an attractive prospect for us," Burns said.Â
Hawthorn will also look to get a deal completed for North Melbourne's Josh Goater, who wants to be traded.
Fringe Hawk Finn Maginness appears set to join the Bulldogs but likely will have to wait for the Butters situation to work out.
The Dogs are yet to lodge free agency paperwork and the Power haven't decided whether they would accept a compensation pick or force a trade.
Geelong are also going to be busy attempting to thrash out deals for St Kilda ruckman Rowan Marshall and contracted Essendon gun defender Jordan Ridley.
Cat Jack Bowes is set to join the Bombers at some point.
North Melbourne, who are set to appoint highly-rated Fremantle assistant Jaymie Graham as their new head coach, are keen on Adelaide defender Nick Murray.
But after Jordon Butts left as a free agent to the Western Bulldogs, the Crows are digging in their heels.
West Coast hold interest in Geelong's Gryan Miers and Melbourne's Jack Viney, while Carlton are the only team in for GWS defender Lachie Whitfield.
Collingwood, who already secured Lachie Neale and Jesse Hogan, are keen on Richmond defender Jayden Short while Jordan De Goey and Dan Houston are no guarantee to stay in black and white.
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