The Bulldogs had proposed a straight swap of Griffen for Boyd earlier this week, dangling a million-dollar carrot in front of the 19-year-old who is halfway through the mandatory two-year contract all draftees sign.
Boyd requested a trade following the Godfather offer.
GWS chief executive David Matthews was forthright in his response on Monday, saying “Tom Boyd will not be traded under any circumstances”.
Matthews suggested on Wednesday there were a number of factors that led to the U-turn.
“First, the Bulldogs have made a revised and attractive offer which now includes their first draft pick, an elite player in Ryan Griffen and salary cap assistance in relation to his contract,” he said.
“Second, our coach Leon Cameron has consulted the leadership group and they have agreed they want a united and loyal playing group heading into an important season.
“Third, as a club, we are proud to represent western Sydney and Canberra and it’s critical that our players share that value. Clearly, Tom doesn’t.”
Bulldogs counterpart Simon Garlick called the deal a major coup for the club.
“We are delighted to have secured a player and young man of Tom’s calibre,” Garlick said.
It was a week ago that Griffen asked to be traded to GWS, setting in motion a series of events that led to Bulldogs coach Brendan McCartney’s resignation.
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The Giants now have picks No.4, No.6 and No.7 in next month’s draft.