But he has slammed a report claiming he rejected a multi-million dollar AFL finance package as part of a compromise in a bid to cling to power.
Johnson confirmed members will vote on the board's make-up at the EGM on November 13, resolving a two-month-old battle between the chairman and a rival ticket featuring directors Mick Power, Paul Williams and AFL legend Leigh Matthews.
Johnson says other resolutions at the November 13 EGM included the Lions' guernsey design and a constitution change that will allow life members to be elected to the board, removing a major hurdle for Matthews.
However, Johnson hit back at an "incorrect and deliberately misleading" News Ltd report on Thursday that said he derailed an AFL deal that would have safeguarded the club's future in a bid to remain in control.
The report said the AFL was prepared to back a compromise Lions board.
It said the move was directly linked to a finance package that would have expanded the football department, had the capacity to cover 100 per cent of the salary cap, had an ongoing underwriting guarantee and a profit-sharing arrangement that could have topped $10 million.
The report said when Johnson discovered he was not part of the compromise board he called the EGM.
Johnson said an EGM was called after a majority of Lions directors agreed the AFL compromise deal was not acceptable to all parties.
But Johnson said in a statement on Thursday that the finance package was still on the table.
"These claims (in the report) are incorrect and deliberately misleading," he said.
"I have spoken to AFL CEO Andrew Demetriou this morning and he has strongly rejected the claims.
"The AFL Commission has agreed a financial advance contingent on board stability. This package has been discussed over an extended period.
"Mr Demetriou this morning confirmed that the financing remains in place with the condition remaining that the board must be stable.
"The AFL's financing package is not linked to the compromise proposal put forward by the AFL and rejected by a majority of the board, as is claimed (in the media report).
"Based on media reports, it appears that information is being misrepresented to the media and to Leigh Matthews.
"Members have every right to be angry that they are being deliberately misled by false claims through the media."
The fate of Johnson and five other directors will be decided at the EGM, ending the Lions' long-running feud.
Power and Williams launched a rival ticket and recruited Matthews after they fell out with Johnson over club legend Michael Voss' sacking in August.
The vote on the constitutional amendment would open the door for life member Matthews to be elected to the board.
And members will also decide on whether to replace the much-maligned 'Paddle Pop' lion playing strip with the Fitzroy-based design they wore during their heyday.
