Sydney football club will be insolvent by November unless they receive at least $1.5 million in emergency assistance from the AFL, The Australian reported.

Swans chairman Richard Colless told the newspaper the club was in a "genuinely life-threatening situation".

"One million won't be enough, two million would be perfect, but hard to get, so $1.5 million is the compromise," Colless said.

The Swans request will go before the AFL Commission and AFL chief executive Wayne Jackson told the Australian: "We are very sympathetic to their position."

He confirmed the club could not trade past October in its present financial state with the Swans' income stream down by $4.5 million on initial forecasts.

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