Geelong aim to announce their new AFL coach on Monday, with outgoing president Frank Costa also approving Mark Thompson's expected move to Essendon.

Costa met with Essendon chairman David Evans on Friday in an effort to soothe growing tensions between the two clubs.

The Bombers lured assistant coach Brendan McCartney from Geelong and there is persistent speculation that Thompson will also eventually go back to Essendon as part of their revamped football department.

Thompson stunned the Cats earlier this month when he retired suddenly, citing burnout.

While Thompson has not revealed his plans, it is understood he will eventually join the Bombers, where he was a premiership captain, to help new coach James Hird.

Costa said the Cats originally had 120 applicants for Thompson's replacement and that is now down to a field of three - Gold Coast assistant and former Geelong star Ken Hinkley, current Geelong assistant Brenton Sanderson and Fremantle deputy Chris Scott.

It was reported on Friday that Hinkley would have former Sydney coach Paul Roos as his mentor if he won the Geelong job.

"We're hoping to make it by Monday, I believe, because Cooky (Geelong chief executive Brian Cook) and I on Monday evening are jumping on a plane to go to Ireland for the football there," Costa told Channel 10.

"We'd like to have that decision made."

Costa said if Thompson ends up at Windy Hill, he will go there with the Cats' blessing.

"I believe he'll never go there as a coach and that was Geelong's concern," Costa said.

"If he goes there to support James Hird, that's a different story.

"We can't do anything about that and we wouldn't worry about that."

Costa said the meeting with Evans went well and cleared any misunderstandings between the two clubs.

He added that Evans was unaware whether Thompson would eventually take on a role at Essendon.

Costa doubts there would be bad blood between Geelong and Thompson, despite the unusual circumstances behind his departure.

Thompson became Geelong coach in 2000 and took the club to their drought-breaking 2007 premiership.

The Cats were the dominant team over the last three years, making three-straight grand finals from 2007-09 and also winning last year's flag.

Eventual premiers Collingwood beat Geelong in their preliminary final this season and No.1 player Gary Ablett confirmed his departure for Gold Coast shortly after.

"He built the club right up, won a couple of premierships, we played in three grand finals ... we can't complain," Costa said of Thompson.

"So he goes with our blessing."

Costa and Cook said this week that the Cats believe they remain premiership contenders next season.

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