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The Sydney Swans have abandoned plans to develop a new $70 million headquarters at Moore Park, which would have been shared with netball's NSW Swifts.

AFL club Sydney has put plans for a new $70 million headquarters on hold because of the financial impact of the coronavirus outbreak.

The Swans had planned to share a redeveloped Royal Hall of Industries building at Moore Park - next to the Sydney Cricket Ground - with netball's NSW Swifts.

But the centre of excellence plan will not come to fruition any time soon, with the Swans pulling out of a deal with the NSW Government and Centennial Park and Moore Park Trust.

"The club has exited the lease agreement for now but is committed to reigniting the project post the pandemic," the Swans said in a statement.

"The Sydney Swans would like to thank the NSW and Federal Governments, the AFL, and everyone who has been involved in the project for their hard work and support.

"We look forward to realising our aspiration to build the Sydney Swans HQ and Community Centre in the future."

The Moore Park project would have established a new home for the Swans' AFL and NEAFL sides, as well as a future AFLW team.

It would have also housed the NSW Swifts, Swans Academy, GO Foundation, Clontarf Foundation and an Australian Red Cross Blood Bank donation centre.

The Swifts said in a statement they would continue to work on the project with the Swans once the dust has settled from the coronavirus pandemic.