Lance Franklin has conceded that his decision to play on in 2023 was a 50-50 decision, but that he didn't entertain the thought of leaving Sydney.

Speaking to media on Tuesday, the day after announcing his new one-year deal to remain a Swan in 2023, Franklin was adamant that his heart remained in Sydney.

Reports earlier in the year suggested that Franklin may be on the move north to join the Lions on a new deal, speculation that the champion forward dismissed, admitting that his big decision was playing on or retiring, not leaving the Swans.

"[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," Franklin 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.

"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."

Franklin moved to the Swans at the conclusion of the 2013 season on a lucrative, long-term contract, prompting pundits to question the validity of the nine year contract.

SYDNEY, AUSTRALIA - JUNE 08: Lance Franklin of the Swans thanks fans after winning the round 12 AFL match between the Sydney Swans and the Western Bulldogs at Sydney Cricket Ground on June 8, 2017 in Sydney, Australia. (Photo by Cameron Spencer/AFL Media/Getty Images)

Now in his 18th season and having exceeded the 1000th goal milestone earlier in the year, Franklin is happy to silence his critics.

"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?"

After winning two premierships with Hawthorn, Franklin is yet to claim a flag in red and white, now given the opportunity when the Swans face Geelong on Saturday afternoon.

The star forward is aware of the challenge that the Swans face when coming up against the in-form Cats, but is keen to play on the big stage in September once again.

"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," Franklin said.

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