The 25-year-old came from the Darley Football Club in regional Victoria, playing for the Western Jets in Victoria's TAC Cup before being selected as pick 12 by the Power in 2018.
He has played more than 150 games for the club, winning three consecutive bests and fairests from 2023 to 2025 in addition to All-Australian selections in 2023 and 2024.
It had been known for some time now that Butters was keen to see out the end of his contract at Port Adelaide before seeking a new home in Victoria.
Because Butters is amongst the top earners at Port Adelaide, he is classified as a 'restricted' free agent.
That means the Power can match the highest bid made by any suitor and force Butters' new club to trade with the Power, which is likely to get them at least one significant future draft pick.
"Port Adelaide has been informed by Zak Butters and his management that he intends to exercise his rights as a restricted free agent and explore a return home to Victoria," the club stated on Monday.
"Zak has been an outstanding servant to the football club since debuting in 2019. He is a three-time John Cahill Medallist and dual All-Australian and we thank him for everything he has given to Port Adelaide.
"The club will now work to facilitate the best outcome for Port Adelaide through this process."
Butters told Port Adelaide on Monday that the move to return to Victoria was driven entirely by a desire to be closer to family.
"I made a decision to head home. It's one that I have wrestled with for a while now, one that has been tough to get to the bottom of. It's not one I have taken lightly," Butters said.
"I've loved my time in Adelaide and everything the city and the football club has given to me. I feel I'm at a stage of my life where I'd like to get back around family and friends and cherish some moments with them.
"In saying that, I've really enjoyed my time in Adelaide and it has felt like home for me."
"I'll be forever grateful for Port Adelaide drafting a skinny kid from Darley that had no shoulders," he joked.
"There's nothing better than Showdowns and that is something I'll dearly miss."
Butters reportedly did not inform the club of a preferred destination in Melbourne, with meetings to come.
Geelong and Butters' childhood love, the Western Bulldogs, are considered to be the two leading frontrunners to gain his signature.
Aaron Murphy has been with Flashscore since 2018 and, as the founding editor of the Australian newsdesk, has reported on-site at several major events in Melbourne including the Australian Open, State of Origin, A-League, NBL and international cricket. You can read his pieces here and contact him on X or LinkedIn.
