The ex-Hawthorn president revealed on Thursday he'd been approached by Demons' members to front a ticket.
"If he wants to throw his hat in the ring he's entitled to do that," Demetriou said.
Demetriou said the former Victorian premier's credentials were obvious.
"His track record suggests he'd be suited to take on any chairmanship role because he's a doer and he's capable of outcomes and he's demonstrated that in the past," he said.
"But at the end of the day, it's a decision for Melbourne football club members.
The League chief also dismissed Jonathan Brown's concerns about his recent two-game striking suspension, compared to the one-week ban handed to New South Wales player Paul Gallen for his rugby league state of origin punch.
"It's different codes but we're men, mate," Brown said on Channel Nine Thursday night.
"We're men and we play a contact sport."
"I don't think you can compare the two. I mean what the NRL do with Paul Gallen is entirely up to them," said Demetriou.
"The reason Jonathon Brown got two (weeks) is because he took the case to the tribunal, and he could have accepted one so I don't understand what the issue is there.
"If anyone suggests that our competition's getting soft, I dare say they might be delusional."
Demetriou wouldn't buy into the impending debate about whether Ben Cousins should go straight into the AFL's Hall of Fame when he becomes eligible next year.
Cousins public battle with drug abuse and 12-month ban for bringing the game into disrepute is expected to become a major talking point ahead of the 2014 ceremony.
Demetriou said it was in the hands of the Hall of Fame selection commitment.
"It's a very eminent committee - they are guided by a charter, they'll select based on that criteria.
"(It's) not for me to suggest one way or another, I don't get involved in the Hall of Fame committee."
And plans to help Cricket Victoria set up a base at Melbourne's Junction Oval are progressing. Such a move may help the AFL get access to the MCG earlier, allowing the start of the football season to be brought forward.
"I think there's a deal that can be done. I think everyone's on the same page to try and get an outcome. We support Cricket Victoria having an academy at the Junction Oval," Demetriou said.
Matt Thompson is a reporter for AFL Media. Follow him on Twitter @MattThompsonAFL
