The club requested financial help last month due to cash flow, stadium deal and debt issues, but Demetriou said the AFL and the SANFL would ensure the club's future.
"It's very serious, it's a very serious financial situation," Demetriou said in Melbourne on Thursday afternoon.
"It's on the public record that they have got significant debt and they've got a significant shortage in their cash flow.
"But we're committed, like the SANFL, to working with Port Adelaide – they're a very important franchise in the AFL competition, and they're a great club, rich in history.
"We'll work very closely with the SANFL and Port Adelaide to make sure we get things right."
Demetriou said the club was in no danger of falling over.
"We don't believe so – all of our clubs, from time to time, go through various difficulties, and what's important is to reiterate how committed we are, with the SANFL, to helping Port Adelaide."
Demetriou also said there would be no third stadium in Adelaide.
"We discussed various options, and we do not support the option of a new stadium – there are already two very very good stadia in South Australia.
"The option of a third stadium, at a considerable cost, is not one that we support during this period of time."
Demetriou said there would not be any AFL teams – either Port Adelaide or all non-South Australian games – played at the Adelaide Oval in the short term.
“SACA (South Australian Cricket Association) presented a concept design to the SANFL and the AFL to expand Adelaide Oval’s capacity to beyond 50,000 while the SANFL reaffirmed its commitment for the game’s home to be at AAMI Stadium and restated the importance of the $100 million required from the State Government for its $200 million redevelopment,” he said.
Demetriou said more work needed to be done by all parties to explore what could work best for the SANFL and the SACA and all parties have agreed to meet again late next month.
