According to this article by reputable journalist Kim Hagdorn at Sportsnewsfirst.com all the Vic clubs (except MFC, North & Bulldogs) are going to meet to discuss forming a breakaway stand alone reserved comp. This is something the MFC can't afford to be left behind on, especially considering the farce the VFL has become with 4 byes a year - there seemed to be a period in May where we only played one reserves game for the whole month.
http://www.sportsnewsfirst.com.au/articles/2012/08/14/new-league-push-for-afl-power-clubs/