THE MCG'S Great Southern Stand won't be rebuilt for at least a decade.

Despite the fanfare of the AFL new agreement with the Victorian Government to keep the Grand Final at the venue until at least 2057, a new facility on the southern side of the stadium could be as far as 15 years away.

"While there is no firm timeline or plan surrounding a redevelopment of the Great Southern Stand, we expect that such a project would be delivered in the next 10-15 years," MCC chairman Steven Smith said in a statement on Friday.

However, the key factor for the MCC is the certainty of its football fixture that will allow it to secure the funding model it needs to completely rebuild the Great Southern Stand in the future.

"Extending the AFL content agreement for an additional 20 years will provide us with certainty that allows us to plan for future stadium upgrades, and strengthens our ability to ensure the MCG remains the premier stadium in the country, if not the world," Smith said.

The Great Southern Stand was completed in 1992 ahead of that year's cricket world cup.

The northern side of the venue was rebuilt in three stages from 2003 to 2005 ahead of the Commonwealth Games.

The MCG's new agreements with tenant clubs Melbourne, Richmond, Collingwood, Hawthorn and for less games Essendon and Carlton, come into effect for the start of the 2019 season and will provide greater gate takings for all of them.

"Today's agreement is good for the AFL, its clubs and the MCC," Smith said.

"It heralds a new partnership with the AFL, and includes a significant amount of additional money that we have committed to distribute to the MCG tenant clubs.



"We want to see the Victorian clubs - particularly those based at the MCG - thrive and enjoy success. Their ongoing viability and success is good for the AFL, the MCG and the people of Victoria."