The AFL has offered the Kangaroos a $100 million carrot to pack up and move to the Gold Coast, the league's proposal finally presented formally to the club's board yesterday.

The massive offer takes in the elimination of the Kangaroos' present near-$5 million debt, an injection of $22 million into the club's revenue streams, a separate $10 million grant to be put towards a non-football revenue-generating asset, a relocation package for players, coaches and staff of more than $3 million, the buying back of privately owned shares in the club, and continuing marketing and game development support.

But the offer remains conditional on the AFL reaching an agreement with the Queensland Government on a deal for a new stadium, which is still being negotiated, and which remains a major sticking point for the Kangaroos.

There is also the matter of the gathering strength of the anti-relocation push, led by board member and potential chairman James Brayshaw, who last night announced that the club had formulated a plan to generate a profit of $4 million by the end of 2009.

He said estimated profit over the next two years was based on non-football revenue streams of $8 million at the start of 2008 and $10 million at the start of 2009.

The Stay in Melbourne proposal also had generated an extra $1 million worth of guaranteed sponsorship in recent weeks and Brayshaw said he was confident that would increase to $1.5 million over the next three months.

He and acting club chairman John McGowan said the board would consult key stakeholders on both proposals and try to reach a decision by early next month.

Brayshaw said the AFL's proposal was "a fantastic offer" but emphasised that the club would not agree to any plan without a detailed stadium deal.

"The only thing about the AFL offer that worried us a little bit (is) they don't have a stadium deal," he said.

"A lot of the big, fat profit in this revolves around a stadium deal, they (the AFL) don't have that . . . so we would need to see what that looks like before we absolutely sign off . . .

"What the stadium deal does is firm up the figures they've got - without the stadium deal, it's very hard for them to guarantee those figures."

The emotional ties of the old North Melbourne are still figuring prominently in any looming decision about the club's future.

Brayshaw said last night he wasn't convinced any relocation would adequately preserve the club's rich history.

"The decision for us (is) do we hand in the heritage and magnificence of the North Melbourne Football Club and the Shinboner spirit and all the things we love . . . to cash in on an amazing financial offer?" he said.

"That is a decision we're all grappling with enormously . . . you hand the keys of your club over and that intrinsic, beautiful thing that is the North Melbourne Football Club perhaps doesn't exist any more . . . I worry about the heritage.

"You can roll past players out for photo opportunities as long as you like, but if the club goes and lives up there, it isn't the North Melbourne Football Club any more."

Both McGowan and Brayshaw agreed the club's members also were entitled to see the details of the AFL's offer and the Stay in Melbourne proposal before a decision was reached.

Brayshaw also said the club's complex share structure had to be revised and the club returned to members, as the current system was unworkable. The AFL proposal includes a $3.6 million loan to buy back the shares to facilitate that. "I think that is crucial, the club has to be handed back to the members at some stage," he said.

Apart from the huge financial lure, the AFL proposal also includes significant on-field support, including a salary cap allowance of 10% to facilitate the retention of players, priority access to two uncontracted players at the end of 2009 and one at the end of 2010, and listed players and rookies from the Gold Coast region.

It guarantees seven away games in Victoria for first 10-years agreement, and six thereafter, and a minimum of six free-to-air games live or near-live into Melbourne.

AFL chief executive Andrew Demetriou insisted yesterday after the proposal was presented to the club that there was no pressure being applied to the Kangaroos to make the shift, and that the league would be just as happy to launch a 17th AFL team.

He emphasised the AFL understood the emotional wrench involved for the club to make the momentous decision. "We respect absolutely and fully that people want to do whatever they can to keep the football club in Melbourne," he said.

"Our single objective in this whole exercise has been to give them the opportunity to consider as an option making them a strong financial football club for the next 50 to 100 years. It's still their decision. But the Gold Coast is also about our obligation to the code. AFL football can't afford to lose momentum and not have a presence on the Gold Coast."