Former Essendon coach of 27 years Kevin Sheedy is tipped for a return to the Bombers after a coaching and management stint at the fledgling Greater Western Sydney Giants.

News Corp is reporting that Sheedy, who has coached the Bombers to four premierships, will take up a five-year post as the club’s general manager of club projects and innovation on a five-year deal.

Sheedy is currently a club director at GWS and holds a managerial position.

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When questioned about the possible departure of the Aussie rules legend, Giants CEO Dave Matthews said no decision had been made.

“I’m not surprised at all that Essendon has been very interested or linked (to Sheedy),” Matthews said.

“We’ve had some discussions with Essendon along those lines. We understand that it would be a great thing for them if they were able to get him back, but no decision has been made as yet.”

News Corp reports that 67-year-old Sheedy has had several meetings with Essendon’s president Paul Little and chief executive Xavier Campbell, and a $250,000 a year deal could be announced as early as next week.

Despite the potential loss of Sheedy, it’s not all bad news for the GWS Giants.

The club has re-signed inaugural GWS Giants co-captain Phil Davis, less than a year after he suffered a career-threatening injury.

He joins Toby Greene, Aidan Corr, Heath Shaw and new recruit Ryan Griffen in committing to the club to the end of the 2018 season

While several of the club’s best youngsters, including 2013 All-Australian forward Jeremy Cameron, are unsigned beyond this season, Mr Matthews said discussions were progressing well.

“We know that there’s a lot of scrutiny and interest in those players as there should be because they are talented players,” Matthews said.

“We expect in the coming weeks there will be further announcements, so we’re pretty relaxed at the moment.

– with AAP