While a deal is yet to be reached, Chairman James Brayshaw says the potential agreement will enable the club to guarantee its long term future and become a powerhouse of the competition.
"Our members should be very excited by the opportunities this could present us. We will guarantee our supporters 11 games in Melbourne and we will be able to grow our great club like never before," Brayshaw told kangaroos.com.au.
“While we are extremely positive about the direction our club is heading, I have consistently said we need to look at these types of opportunities to grow. We think there are great opportunities to work with Tasmania and we will keep our members informed as we continue to work through this.
"We have repeatedly stated that our home will always be at Arden Street and we will always be the North Melbourne Football Club. That will never change."