The AFL is on the verge of receiving a $600 million which will help keep the industry alive whether the 2020 season goes ahead or not.

AFL journalist Damien Barrett is reporting the game is set to get a lifeline of up to $600 million as it looks to survive the coronavirus crisis.

“Two major projects the AFL embarked on, one was to get the agreement of the players with their pay deal,” Barrett said on Nine’s Sunday Footy Show.

“The second project and this is the one I expect some announcement on some stage this week, that is a financial lifeline to the tune of up to $600 million to be given to the AFL.”

“It’s not a grant, it’s not a gift, it’s a loan. It will allow the AFL to operate throughout 2020 no matter what happens, we play games or we don’t play games.”

“The negotiations with the banks are still on-going, but it will be the done, the way I read it, at some stage next week.”

It comes after the AFL and AFLPA ended their pay dispute on Friday, with the players agreeing to terms of a 50 percent pay cut until the end of May.

"I know that we go into this hiatus with 18 clubs, we'll come out with 18 clubs and we will have an industry to go forward with," McLachlan told Fox Footy on Saturday.

"I'm absolutely confident.

"We might look a bit different but the core structures will be the same.

"We're just going to get through some pain here and come out the other side."