The Eagles captaincy is one of the talking points of the summer following the retirement of Darren Glass in the middle of last season.
Glass had led the club since 2008 and during that time his reappointment as captain each season had been a straightforward process.
After the club’s coaches and executives met recently, Simpson revealed the Eagles had come up with a simple plan to select the next captain.
"It's pretty basic. We'll get in a room and talk about it," Simpson said.
"Management, myself, the board, the executives at the club, we'll work through that as a team.
"At the end of the day and I would have thought myself and Craig Vozzo (general manager of football) would work through that with Trevor Nisbett (chief executive)."
Simpson said he would also consult the playing group.
"We'll get some feedback and they will give us some direction but they won't have the final say," Simpson said.
Following Glass' retirement in June last year the captaincy was rotated between the Eagles' leadership group which included vice-captain Josh Kennedy, Matt Priddis, Shannon Hurn and Eric Mackenzie.
Scott Selwood was a joint vice-captain with Kennedy last season after Beau Waters stepped down to focus on his rehab from shoulder surgery.
Selwood had ankle surgery in the same week Glass retired and as a result was not involved in the rotation as he only managed to return play the last game of the season.
But he remains a candidate for the captaincy along with the other four players.
"(It will be the) same group," Simpson said.
"I was really happy with the progress they made with their leadership.
"Working under Darren Glass was a really good grounding for them to take that next step. What they did on field was really pleasing with their leadership, so there is a good field to pick from."
Simpson was understandably wary about putting expectations on his team for next year so early in the pre-season but he said the logical progression would be to play finals.
"We want to improve and we finished ninth last year so you would assume that if we make improvement, finals is a part of that," Simpson said.
"But we have not sat down and spoken to the players and leaders about that and expectations.
"But I would have thought there were six or seven clubs on the fringe who want to play finals and there is normally one or two changes a year, so it's going to be a dogfight."
