AN AFL great playing a major role in trying to resurrect cash-strapped VFL club Frankston fears the game's new collective bargaining agreement could harm the Dolphins' hopes.

Former Hawthorn champion Gary Buckenara and a small band of employees and volunteers are scraping together every dollar and bit of support possible for the Frankston cause.

The AFL and the AFL Players' Association remain in negotiations on a new CBA, but appear close to reaching a resolution on how the $2.5 billion broadcast rights will be split.

An AFL Victoria spokesman said VFL clubs received differing amounts as part of the rights money for grassroots football, but Buckenara told AFL.com.au a potentially smaller contribution for the Dolphins would hurt. 

Buckenara, the club's general manager since February, will spearhead Frankston's presentation to AFL Victoria on June 30 for readmission into the VFL after a season in the wilderness. 

The Dolphins are almost half-way to their bold goal of having 1000 members by the presentation and plan to field only a senior side next year, which would save about $100,000. 

Buckenara, who lives in nearby Rosebud, expects to find out in late July if Frankston's application for a 2018 VFL licence was successful. 

"I think there will be a will from a lot of people to try and apply again (if AFL Victoria rejects the Dolphins' application), but I would say that would be it," Buckenara said. 

"It would then be shut-up shop and I think (Frankston City) Council would then take over this venue. 

"A lot of people would then be lining up to be the tenant here … I think if we don't get the licence, then the Frankston Dolphins footy club would cease to exist." 

AFL Victoria announced in September last year – during AFL Grand Final week – it was not offering Frankston a VFL licence for 2017 in response to a pokies-related debt of $1.5 million.

The Dolphins won just 16 games, on top of three draws, and finished on the bottom four times in the past six seasons as they paid barely half the VFL's $500,000 salary cap.

The debt is now a more manageable $410,000, to be paid off in four annual payments starting in September, thanks in large part to the State Government waiving a vast chunk of the $500,000 it was owed. 

The council has also given permission for the club to sell the naming rights to Frankston Park, which will be known this year as Mornington Isuzu Ute Stadium.

Buckenara is one of just two full-time staff, while a part-time functions manager is also on the payroll. 

The Hawks connection doesn't end with the 154-game, 293-goal midfielder-forward, with ex-Hawthorn president Ian Dicker and membership manager David Friend part of the cause. 

Buckenara said Frankston was not the only standalone VFL club struggling financially and that his club filled an important part of the talent pathway jigsaw puzzle. 

Western Bulldogs premiership players Matthew Boyd and Tory Dickson, Melbourne's Michael Hibberd, Richmond forward Sam Lloyd and Essendon's Mark Baguley are Dolphins products along with Swans backman Nic Newman.

"We've had the most players drafted in the last 20 years out of any VFL club," Buckenara said. 

"The (Mornington) Peninsula itself, over the history, has produced something like 240 VFL/AFL players, including handy names like Leigh Matthews, John Coleman and Dermott Brereton.

"The AFL south-east region is one of the highest in participation numbers in Australia, so not to have an elite pathway team doesn't make sense."

John Longmire spoke at a Dolphins business function a fortnight ago to raise funds, while Leigh Matthews, Peter and Paul Hudson, and Luke Beveridge will be involved in similar events.