Financially struggling AFL club Melbourne will almost certainly lose their major sponsor at the end of this year.

The Demons said telecommunications company iPrimus had advised them it was unlikely to renew its contract as naming rights partner, which is in its fifth and final year.

However, the club said negotiations were underway with a view to the company continuing as a lower level partner in coming seasons, with talks also being held with other potential sponsors.

"I would like to take this opportunity to thank iPrimus for their outstanding support and partnership over the last five years, and I am pleased that iPrimus would like to continue with us in some form," Demons president Jim Stynes said.

"Anyone who partners with our club now will be joining a club that is heading into an exciting new era."

The loss of the sponsorship deal is a blow to the club, which has recently made significant headway into erasing their $5 million debt.

The Demons raised more than $2 million at a fundraising dinner earlier this month, which kicked off their debt demolition campaign.

The bottom-placed club also received an off-field blow, with the news that agile forward Aaron Davey and athletic big man Paul Johnson would miss the rest of the season due to injury.

Davey missed last Friday night's huge loss to Geelong with a bruised heel, but X-rays have since indicated he also has a stress fracture, wiping him out for the remaining three rounds.

Johnson will have surgery on an injured hip early next week.

The Demons will be certain wooden spooners unless they can beat 15th-placed West Coast at the MCG on Saturday.

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