The powerhouse in July said it was "exploring everything" - including moving to the Warrnambool and District and South West District leagues - to shore up its long-term future.

The Bombers must inform AFL Western District of their decision before the October 31 deadline.

Penshurst president Brenden Cottrill said the club would meet to iron out a decision on "Tuesday or Wednesday".

Outgoing Warrnambool and District Football Netball League president Michael Harrison said "nothing had changed" and the league was still open to Penshurst joining its ranks.

"It's up to Penshurst to go through the processes and to make an application if they decide that's what they want to do," he said.

READ MORE:

"We've had a couple of meetings (with Penshurst) as we would with anyone or any club. They've got to look at what they need and what they can do to put themselves in the best position.

"They just have to tick all the boxes for what they'd like to do. It's a big decision to make."

AFL Western District operations coordinator Mat Milne said 75 per cent of Warrnambool and District league clubs would need to vote in favour of Penshurst's admission to the competition if the Bombers opted to move.

The Bombers fell to Great Western in this year's Mininera league grand final.

Have you signed up to The Standard's daily newsletter and breaking news emails? You can register below and make sure you are up to date with everything that's happening in the south-west.