LANCE Franklin has conceded his decision to play on at Sydney or retire was a 50-50 call but said he never considered playing for another AFL team or had discussions with any other clubs.

The eight-time Therabody AFL All-Australian has lit up Grand Final week by finalising a one-year deal to play on at the Swans that will take his tenure in the harbour city into a 10th year.

It ends months of speculation about his future and extends his original nine-year deal at the club, which when announced, prompted criticism in some quarters for being too long.

In being able to see out the contract and now extend it, Franklin said he's enjoyed being able to 'prove some people wrong' but admitted he came very close to calling an end to his legendary career at the end of this season.

'ONE MORE' Franklin signs on for 10th year in Sydney

"[It was] 50-50 to be honest. But as the year went on and I spoke to the people that I care about it became clear that I needed to go on. There's obviously unfinished business. I feel like I've still got a little bit more to give," he said.

"I'm over the moon with this decision. It hasn't been easy. I've been playing for 18 years, it's a long time in the game. I've got a young family now. It was a hard decision but my passion for the game, my love for the football club, my heart was still here."

Sitting fifth on the all-time goalkicking list with 1047, Franklin was also happy to return fire to those who criticised the Swans' call to sign him to a nine-year deal from Hawthorn at the end of the 2013 season.

"Yeah there's been a lot of knockers over the years, haven't there? A lot of people knocking that I wouldn't get there, I wouldn't make it. That I'd play for four or five years and that would be it. I've definitely proved them wrong, haven't I?"

As he prepares for his sixth Toyota AFL Grand Final, Franklin said he chose to make the announcement now to put to bed the speculation during a massive week for the club and make it 'about the boys', rather than his own future.

And as he bids for a third premiership in his career and first as a Swan, he said capping off the season with a flag would put an exclamation mark on those original contract critics.

"It'd be nice, it'd be nice. But it's going to be a difficult job. Geelong have won 15 in a row and are in fantastic form. We're just going to have to go there and give it our all and see how we go," he said.

"My main focus is this week, it's what we play football for, to play in Grand Finals."

The four-time Coleman medallist said the constant discussion about his future, which included speculation that he would sign for Brisbane for a year, took its toll at times during the season.

"That's why I put it to the side and said I'd make my decision at the end," he said. "There's so much speculation and things that are put out there that aren't in my control. I've been in the game a long time and understand that's what happens and it's part of the game and that's a great side to it.

"But there's also another side to it, when you've got a young family and there are decisions that have to be made it can be frustrating at times."

While next season is likely to be his swansong, Franklin refused to rule out another contract extension to play on in 2024 at the age of 37.

"As the year went on, I realised I've still got passion to play and compete. When that goes, I'll finish up. Hopefully we can have this conversation next year," he said.