Cresswell, 43, is understood to be in serious negotiations with the struggling Ovens and Murray club and is expected to be announced as Simon Bone’s off-field successor shortly.

Cresswell is coaching Palm Beach-Currumbin in Division 1 of the South East Queensland Football League but looks to have been lured to Victoria by the Raiders for next season.

Cresswell, who played 244 games for the Swans from 1992 to 2003, has plenty of experience in the coaching box and shapes as the high-profile injection the Raiders desperately need after a string of poor results.

They copped a club-record 148-point thumping from Lavington on Saturday.

Cresswell was an assistant coach at both Geelong (2004) and the Brisbane Lions (2005-06) in the AFL and coached Tasmania in the VFL in 2007 and 2008.

The former AFL star also led Manly-Warringah in AFL Sydney’s Division 1 competition in 2009.

The Raiders did not return calls yesterday.

Cresswell was declared bankrupt in 2009, with debts of more than $700,000 from a gambling addiction leading to him being convicted on two counts of fraud.

Cresswell was sentenced to a minimum of 10 months’ jail in December 2010 and has spent the past three seasons coaching Palm Beach-Currumbin after his release in October 2011.

The club won the SEQAFL premiership last year and sits third on the ladder after 15 rounds this season.

Former Raiders star Todd Bryant plays at the Queensland club and has enjoyed a stellar season under the former AFL star.