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Nine AFL players were paid more than $1 million in 2019, but that figure fell to two last year after deals were renegotiated in light of the COVID-19 pandemic.

Only two AFL players were paid more than $1 million by their clubs in 2020 and the average salary dropped by a six-figure sum because of the agreed reduction in payments caused by the coronavirus pandemic.

AFL figures released on Friday showed the average pay for a primary listed player last year was $259,651; down from $363,430 in 2019.

The result came after the AFL and AFL Players Association negotiated a 29.17 per cent reduction in wages as the competition battled a major financial crisis during 2020.

The AFL this month revealed it lost $22.8 million in 2020, with revenue down $119 million to $675 million as a result of the pandemic.

The number of players paid more than $1 million by their clubs dropped significantly from a record-equalling nine in 2019.

The 2019 figures included two players - believed to be Brownlow medallists Dustin Martin (Richmond) and Nat Fyfe (Fremantle) - who earned more than $1.2 million.

That tally was down from a record three the previous year, but the latest figures reveal no players were paid that much in 2020.

Four players were in the $800,000 - $1,000,000 pay bracket in 2020, but two of those failed to play a game.

Of the 698 AFL players on primary lists last year, 113 were paid $100,000 or less.

AFL clubs paid a total of $170.3 million in player payments in 2020 before deductions for injury allowances, veterans' list payments, finals incentives and other reasons.

The clubs' overall payments to players decreased 29.8 per cent from $242.3 million in 2019.