Just a year after playing in the winning 2010 Grand Final team, Macaffer has been told there's no room for him in Collingwood's bulging salary cap, according to his manager Anthony McConville.
McConville says the possible departure of disgruntled Toovey - whose pay demands have not been met by the Magpies for similar reasons - is the only way his 23-year-old client could stay put.
In the meantime, he's exploring other options.
"Surprisingly Brent is in a situation where the Collingwood Football Club don't feel that they have an offer to give him at this point in time," McConville told afl.com.au's Trade Week Radio on Thursday afternoon.
"I suppose bringing in Marty Clarke and a few other players that they've had to re-sign recently, it's put a bit of pressure on their [salary] cap, and he's fallen victim of that.
"Depending on the situation with Toovey and whether that may open the door for Brent to come back into play, but at this point in time we're just speaking to clubs to gain their interests and see if we can satisfy a trade."
Macaffer played 21 games in a variety of roles in 2010, but could manage only four senior matches this year.
Star midfield trio Scott Pendlebury, Dale Thomas and Dane Swan all signed new, expanded contracts with the Magpies during 2011, and forward Chris Dawes signed a two-year deal earlier this week.
In the same position as Macaffer is Richmond's Will Thursfield, who is also managed by McConville.
The defender has been informed that there won't be a place for him at the Tigers next season unless others are traded.
"It's a similar situation to Brent in that Will's preferred option is to remain at Richmond, but it could be a situation where he might get squeezed out," McConville said.
"At the moment I'm keeping all his options open, speaking to other clubs and seeing what could come available with regards to trades and thereafter.
"We're still working through that with Richmond, and obviously they've got players up for trade at the moment.
"If those come to fruition, hopefully it might give an opportunity for Will to remain at Richmond."
No trades are official until paperwork has been accepted by the AFL and formally recognised after 2pm on Monday, October 17.
Follow our complete coverage of the 2011 AFL exchange period from October 10-17. Join the AFL trade conversation on Twitter: use #tradeweek in your tweets
