Greater Western Sydney want their extra AFL salary cap room to remain, even if their cost-of-living allowance (COLA) is scrapped.

The 9.8 per cent allowance, given to the Giants and Sydney on top of the league-wide salary cap, is under AFL review.

It’s considered likely to be removed, or at least modified, from 2015 onwards, with rival clubs angry the Swans have found cap room to recruit star forward Lance Franklin this week, a year after signing Kurt Tippett on a big-money deal.

Giants chairman Tony Shepherd says even if the Swans lose their extra cap room, his club should be allowed to maintain it, although under a different name.

“If it were to be abolished, we have advised the AFL that the Giants would seek an Expansion Allowance at the same level of COLA, for a period of time at the discretion of the AFL Commission, to assist us to continue to attract and retain players during our formation years,” Shepherd said in an open letter to Giants members.

“We expect this would have the support of the other 17 AFL clubs.”

Shepherd said the Giants, who were shocked Franklin chose to join the Swans instead of them, would never have taken the risk the Swans did in signing the ex-Hawthorn star to a nine-year $10 million contract.

“To do so would be to risk our list management strategy for the sake of one individual and we were simply not prepared to do that,” he said.

“We would be extremely disappointed if recent deals offered by the Swans jeopardise the future of COLA and I have personally communicated this to departing Swans chairman Richard Colless,” Shepherd added.