Former Richmond footballer Jake King has made a deal with prosecutors and will admit threatening to hurt another man, as well as possessing steroids.

The ex-AFL player had been accused of extortion and threatening to kill Tony Mokdissi in May 2017 over a $150,000 debt, but those charges will be dropped as part of the plea deal.

Jake King outside court on Tuesday. Credit:AAP

It's understood Mr Mokdissi is a business partner of King's former Tigers teammate Tyrone Vickery, who owns Hawthorn East restaurant Fat Monkey.

King, 34, faced Melbourne Magistrates Court on Tuesday, where his barrister Dermot Dann QC said the case had been resolved and prosecutors would withdraw some charges.