If Geelong do not offer him another contract, he becomes a delisted free agent and can sign with who he pleases? Is he already a free agent?
While Chappy is a free agent we must get Geelong to do a trade for a very late pick, like they did with King and Playfair and we did with Morton.
Otherwise we stand to lose the compensation pick for White.
Compensation picks are only granted on the basis of losing out on balance of incoming and outgoing free agents.
Does that still apply if they de-list him?
De-listed players automatically become unrestricted free agents
Nope.
On reading the rules, clubs do not get compensation picks for delisted free agents.
Presumably this also means there is no balancing of free agents.
Not listed as delisted yet.