AFL club Melbourne have wiped more than $2 million off their debt at a fundraising dinner for influential supporters.

The dinner was start of the Demons' debt demolition campaign, in which they are aiming to erase their $5 million debt.

Tuesday night's event was attended by 170 supporters, who each contributed at least $6,000, with a total of $2,051,000 raised.

"The support we received and the money we raised on the night was sensational," club president Jim Stynes said.

"To make such significant inroads into our debt in one night has provided a fantastic start to our debt demolition campaign."

The Demons will now send a letter to all of their members, asking for further contributions, as well as conducting other fundraising activities throughout the month of August.

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