Twomey revealed early on Saturday morning that months of speculation was ended this week when Butters told Port Adelaide that he wants to exercise a move to Whitten Oval.
The restricted free agent had been linked with a move back to Melbourne all throughout 2026 due to a desire to be closer to his family in western Melbourne, with the Bulldogs and Geelong keenly pursuing his signature.
According to Twomey, the list managers of both clubs have already met up to discuss options on a deal that will facilitate Butters' move to the Bulldogs.
The offer submitted by the Bulldogs is reportedly a record-breaking nine-year contract worth up to $2 million per season, which would see Butters finish his AFL career at Whitten Oval as a 35-year-old.
"Port Adelaide midfielder Zak Butters has informed the Western Bulldogs of his desire to join the club," the Bulldogs said in a very brief statement at midday local time on Saturday.
"The club will work with Port Adelaide to facilitate a suitable outcome during the upcoming player movement period."
Butters was a childhood Bulldogs fan having grown up in the regional Victorian town of Bacchus Marsh, a one-hour drive west of Melbourne and just 45 minutes from Whitten Oval.
The Bulldogs now have significant room to move in their budget after the retirement of Tom Liberatore this week and already have at least three players - Tim English, Marcus Bontempelli and Aaron Naughton - on seven-figure salaries.
The next step is for the two clubs to thrash out a mutually beneficial agreement.
If Port Adelaide choose to match the Bulldogs' mammoth offer, the Bulldogs will be forced to offer a trade; if they can't, the Power will receive pick number five in the next national draft as compensation for losing Butters for free.