MELBOURNE has re-committed to AAMI Park for the next five years but has not ruled out operating from a new location in 10 years time.

Club CEO Peter Jackson told members on Wednesday night that the Demons were happy with current facilities at AAMI Park but needed to consider whether they would still be "right for us in 10 years time".

The Demons have rolling agreements of five-year duration to remain at the ground, a facility they share with Melbourne Storm and Melbourne Victory.

The football department moved there in 2010 and began training at nearby Gosch's Paddock in 2013.

Several alternative options have been explored, with the price quoted to build a new training facility at Elsternwick Park around $35 million.

"We have not got $35 million," Jackson said. 

He said he suspected the political environment was making securing government funding for such projects more difficult, but the club would keep talking to relevant parties to work out the best way forward.

He also raised the prospect of assuming facilities currently used by cricket, when that sport moved to a new training centre proposed for the Junction Oval.

"There is a possibility that if cricket moves to the Junction Oval at some stage, which the Victorian premier (Daniel Andrews) has committed to, what does that mean about space within this place [the MCG]?" Jackson said.

"We're looking at that because this [the MCG] is our spiritual home and there is a great emotional advantage in solving that one."

Jackson said Melbourne was not relocating to the Docklands precinct despite that option being flagged years ago.

AFL.com.au understands talk of a training facility for the Demons at the University of Melbourne is premature, although the club signed a memorandum of understanding a fortnight ago as a foundation for a relationship between the two bodies.

Jackson emphasised to members the club was more focused on getting footy right than discussing facilities.

"The issue right now about becoming a good football club again is more about list management and player development. While we want to talk about facilities in the long term, it is not the thing that is holding us back now," Jackson said.

"We're not wanting for facilities but we want to make sure that in 10 years from now we have facilities that meet our needs and that (10 years) is the horizon we are looking at. We will be talking to state government about their plans for the precincts."

Melbourne unveiled its strategic plan "Respected and Great" at the annual general meeting, declaring the club’s aim to play a final in 2016 and pledging to re-connect with the city after which it is named.