'Pretty crazy': Lance Franklin points out glaring issue after Demons star inks $1.4 million contract

AFL champion Lance Franklin has expressed his surprise at Melbourne's decision to hand Kysaiah Pickett a new contract worth $1.4 million per season.

The new deal was announced during the week and locks the star small forward in at the club until the end of 2034.

Franklin feels those monster contracts should be reserved for key position players like Western Bulldogs star Sam Darcy, who could be in for a monumental pay day when his next contract comes up.

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Darcy made his return from a knee injury on Friday night and did not miss a beat, with the 208cm forward taking five marks inside 50 and kicking three goals against St Kilda.

Franklin labelled him a "generational" talent, while discussing Pickett's new contract.

"(Darcy would) get paid anywhere from $2 million to $2.5 million, I think he's worth that," Franklin told the Buddy and Shane Show.

"If you're looking at Kozzy, well done, tremendous effort to get that deal, the new highest paid player ever, but let's remember he is a small forward pocket going into the midfield, so for me, I probably wouldn't be doing that if I was list manager.

"I wouldn't be throwing around that sort of money for a small forward and midfielder.

"I'd be giving that to a key position player every day of the week. I think they're the ones that change the game and traditionally that's where the big bucks go.

"I think Sam Darcy, if I was Tassie starting up and the cheque book was there, you're going $2.5 to $3 million, he's worth that every day of the week.

"Generational, he is."

Darcy is out of contract at the end of the 2029 season, where he will hit free agency.

This would put him in Tassie's window if the team's entry into the competition is pushed back given the ongoing delays and turmoil in the state.

Franklin also worries Melbourne's list may become too top heavy, with Pickett likely joining Christian Petracca, Clayton Oliver and Max Gawn on seven-figure contracts.

"You've got Kozzy Pickett on $1.4 million, then you've got Christian Petracca over $1m, then you've got Clayton Oliver on over $1m," the eight-time All-Australian said.

"It's a lot of money to be paying those players.

"Congrats to him, but I thought it was a pretty crazy deal."