Speaking to AFL Trade Radio, Pelchen said the Saints would wait for other clubs to come forward with offers

"We've stated from the outset that we would be open-minded in what we do with that selection," Pelchen said.

He said the Saints were not targeting a specific player with the pick and would "wait for clubs to come to us and present options for a trade to take place".

Pelchen said it would be a case of St Kilda multiplying its "draft numbers" or getting a young player who "fits our demographic in addition to a draft selection".

"It's very early days ... many of the clubs are still talking to each other and getting their ducks in a row," he said.

Pelchen said St Kilda had been talking with Greater Western Sydney's Kristian Jaksch and Jono O'Rourke and was "certainly interested in getting those boys to our club".

He said St Kilda's "standards around pick one are extremely high", and the club was prepared to take the No.1 pick to the draft if its expectations for a deal were not met during the trade period.

Pelchen said St Kilda had a four-year strategy in place to build its list.

"We've reset our talent base, and that started a couple of years ago [with] a very intense effort in the trade and draft periods.

"But we've got a deliberate strategy in place that was put to the board in the middle of 2013, and part of the strategy has a four-year recruiting model, which takes you from 2013 through to the end of 2016, and takes in all those four trades and draft periods.

"So right at the moment we're still trying to build on that talent base, so we don't need to be specific about the types of players we need. Fundamentally, they need to be talented, and we'll round out the needs perspective next year and the year after."

Pelchen also addressed whether the club would redraft Ahmed Saad, who was banned for 18 months for taking a banned substance.

He said the Saints would not make a "firm commitment" until they had assessed whether Saad was ready physically and mentally to return to the AFL, and until they had made a comparison with other players available in the rookie and national drafts.

Pelchen said the club had discussed out-of-contract Cat Taylor Hunt and would "probably talk about him further".

Meanwhile, Tom Lee has signed a two-year contract extension with St Kilda. The tall forward has struggled with injury and has played only 13 games for the Saints since arriving in 2012. Lee said in a statement he was humbled to know the club had faith in him.

"After such a frustrating year and not playing too many games, it's really humbling to know that the club has got that faith in me to bring the group forward," he said.

"I'm really looking forward to the challenge. We all have to work really hard towards a common goal and I think we're all doing that and it's really exciting."

Lee is the 18th player to re-sign with St Kilda as part of its "Future Fest" campaign, and Pelchen said although the club had been going through some "challenging times", there were plenty of signs it was heading in the right direction.

Pelchen hinted that a contract extension for young midfielder Jack Billings was close to be being announced.