No-one could speculate about AFL club Melbourne "tanking" off the field.

The Demons have raised $725,000 in one fundraising function as part of an ongoing campaign to eliminate their debt.

They launched this year's Debt Demolition on Wednesday night at the MCG, with 200 club supporters attending.

Melbourne started their debt reduction last year, raising $3.1 million, and this latest contribution has reduced their total debt to under $2 million.

Club vice-president Don McLardy said the Demons aimed to raise $1 million this month.

President Jim Stynes, who is recovering from cancer surgery, made a video message for the function.

While the Demons are working hard to improve their finances, they only have three wins for the season.

They are at the centre of talk about the "tanking" issue and continue to deny they are minimising their chances of winning so they can score a priority draft pick.

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