Having taken the likes of Jack Viney and Jimmy Toumpas at last year's draft and with young key forward Jesse Hogan set to debut next year, Mahoney said the Demons were after a player who had been in the system for a few years, but who still had "eight to 10 years" of footy left in them.
He said a deal for the early pick would likely include a player as well as draft picks.
"I think it's highly likely that it will be [traded]," Mahoney said of the second overall pick.
"We've got a lot of young talent already in our footy club and if the ability is to add an experienced person into our footy club well that's a big advantage for us right now.
"If we could add two to three experience midfielders ... they can come into the side and play alongside the already group of young talent we've got, that would be a successful period for us."
Mahoney said trade talks had not progressed with Collingwood's Heath Shaw, although he said Melbourne had met with former Western Bulldog Daniel Cross, who is a free agent.
Mahoney said the club had done all it could to secure 27-year-old midfielder Colin Sylvia, who is set to decide whether to stay with the Demons by the end of the week.
"We've done everything that has been required to hold onto Col, now he's taken a bit of time to make his decision," Mahoney said.
"[We] expect an answer from Col in the next couple of days.
"We see him as an experienced player through the midfield, that's one thing that we still do need, there's a role for him to play but ... he's got to make a decision on where he finishes his career."
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