CARLTON chief executive Greg Swann has confirmed Brett Ratten will receive a new contract, possibly by the end of this week.

Ratten, in the final year of his contract, helped lift the Blues to fifth spot this season, with the club winning its first final since 2001.

The Blues fell just three points short of upsetting West Coast in Saturday night's epic semi-final but despite the loss, Ratten is almost certain to be rewarded with a new deal.

"It [the semi-final against the Eagles] was a brave effort, and we were encouraged by that but ultimately it's about winning and we didn't do that, so it's disappointing," Swann said on SEN radio on Monday morning.

"We've got a board meeting this week and we'll ratify [Ratten's contract extension]… so it'll be done relatively shortly.

"I don't think there's going to be any tricks to it - we said at the start of the year that we needed to improve and we think we've done that and I think we've got scope to improve again. 'Ratts' and his team have done a fantastic job so I don't think there will be any hiccups [in regards to a new contract]."

The Herald Sun reported on Monday that the length of Ratten's new contract would be two years.

Swann said Ratten had improved his relationships with the playing group this year, adding the coach was "terrific tactically."

The Blues' chief also hinted the club may target a strong key position forward in this year's trade period.

"Centre-half forwards don't grow on trees, they're hard to come by - we'd be interested in someone like Michael Hurley if he was available," he said, half-jokingly to SEN's Matthew Lloyd.

"Now that the season's over we'll get stuck into our list management. We drafted some key forwards and backs last year so we've got them up our sleeves.

"Whatever's out there we'll have a look at it…. [but] we certainly won't be trading for trading's sake."