Franklin was offered a nine-year deal from the Swans, which was subject to AFL approval.
The AFL has today completed their investigation and approved the offer from Sydney.
AFL general counsel Andrew Dillon conducted interviews with all parties involved around the detail of the proposed arrangement.
"The AFL acknowledged that the nature of the nine-year deal was an unprecedented commitment of TPP funds to a single player over such a contract length," he said.
"As a result the AFL sought a number of written guarantees from all members of the club’s board, as well as its senior management."
The Club now has up to 72 hours to decide whether to match the offer.
