GEELONG'S hopes of starting the stage four redevelopment of Simonds Stadium as soon as the season finishes has received a boost, with the AFL Commission granting $4 million towards the project.

The Cats, who reached 45,000 members for the first time this year, are now only waiting on the local government to consider their application for $6 million funding to ensure the project remains on schedule.

The AFL's commitment to the fourth stage matches Geelong's commitment to also contribute $4 million to the stage and underpins plans to make the venue world-class.

The Cats received $75 million in government funding towards stage four, with the Andrews' state government pledging $70 million to the project before being successful at the last state election.

The project, budgeted to cost just above $90 million, will see the outdated Jennings and Brownlow stands reconstructed.

If the project starts at the end of the season, the disruption would be minimised to a reduced capacity in 2016 and potentially a delayed start to Cats' home games for the 2017 season.

Any delays have the potential to add to the costs of the project.

Once completed, the stadium will seat 36,000 spectators and host events in addition to AFL games.

AFL CEO Gillon McLachlan said the AFL Commission agreed to the funding decision in June and the Cats were notified last week.

He praised the club and local and state governments for their efforts in redeveloping the stadium.

"Simonds Stadium is a key part of the AFL landscape that serves the people of Geelong and the wider Western Victorian country region with the ability to watch top-level AFL football," McLachlan said.

"The Geelong council and the Geelong Cats have done a tremendous job over the last decade in the way they have transformed Simonds Stadium, and the AFL Commission remains committed to providing funding support to those venues where we fixture AFL matches."

The AFL gave Geelong eight home games in 2015 and the club hopes to retain the same number of matches throughout the construction period.

The Cats estimate they have invested almost $15 million into the stadium in the past 10 years and are now targeting 60,000 members in their next phase as they battle to re-establish a strong financial position.

Geelong CEO Brian Cook said the ground redevelopment would help secure the club's future in the region.

"The AFL has supported each of the redevelopments at Simonds Stadium, and we’re again pleased that the commission and executive of the AFL understand how important these facilities are for the club, the people of Geelong and the region," Cook said.

"Further upgrades will ensure that Simonds Stadium is the pre-eminent regional sporting stadium in Australia, and it also helps cement the club in Geelong for the long term."

A working party has been put in place to develop a stadium trust to manage the future affairs of the Kardinia Park precinct.

Newly appointed commercial operations manager Justin Reeves told K-Rock earlier this month that completing the stadium was the club's No.1 priority.

"This stadium is amazing for the city of Geelong and everyone involved in the region and we've got to finish this stadium," Reeves said.

"We're heavily involved and heavily committed to completing the stadium for the people of Geelong and not just for the football club."