The Magpies are expected to exchange their first NAB AFL Draft selection at No.25 for the 27-year-old and young ruckman John Ceglar.
Collingwood football manager Geoff Walsh told afl.com.au's Trade Week Radio that the Pies had done their due diligence on the forward, who recently spent 16 months in jail for assault.
"Derek Hine and our recruiting boys have been pretty impressed with him early on and have followed him pretty closely," Walsh said on Thursday morning.
"I know Derek has spent a bit of time talking to him and it's certainly been pretty well documented this year that his season in the WAFL has been nothing short of sensational.
"He's had high possessions, kicked goals, won the [Sandover] medal over there and the medal for best on ground in the grand final, which he literally won off his own boot.
"He had a fairytale year."
Walsh said the Pies would look to use Krakouer, who kicked 102 goals in as many games at Richmond, in both an attacking and midfield role.
"I think he continues to offer options in the role [of a small forward]," he said.
"As he's got older, his body's matured and he can now form part of midfield rotations.
"It's a great story for him given the obvious issues he's faced in recent times and he's rebounded from that pretty well.
"He's recovered and set his focus on improving his life, and all credit to him."
Former coach Terry Wallace said Krakouer's maturing had helped him develop his midfield game and the Pies were getting a "real win" with his ability to extract the ball from contests.
Walsh said young ruckman Ceglar, who had been thrown in with the deal, had impressed the club's recruiting department.
"He just adds to our depth and the potential that we're trying to continue to stock with our younger players with talent, particularly guys with size," he said.
"I'm sure John will develop, not straight away as a guy of his size, but we hope we'll fulfil his potential."
Walsh said he was confident premiership defender Tyson Goldsack would sign a new deal, possibly on Thursday, with forward Travis Cloke to follow.
He also said ruckman Josh Fraser would go to Gold Coast with the Magpies' blessing should the Suns recruit him as expected under their uncontracted player concessions.
However, the deal to bring Fremantle defender Chris Tarrant back to Collingwood has become a little more complicated with the Magpies refusing to trade any of their premiership players.
"That's no reflection on Chris' ability or his talent. It's obvious if we were able to secure Chris, he would strengthen our list," Walsh said.
"If we can do a deal, fantastic, but if we don't [we're not too concerned]."
Meanwhile, St Kilda football manager Greg Hutchison says the Saints are set to be quiet in trade negotiations this week with a view to give their young players more senior opportunities in 2011.
Follow our complete coverage of the 2010 AFL exchange period from October 5-11. No trades are official until paperwork has been accepted by the AFL and formally recognised after 2pm on Monday, October 11.
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