HAWTHORN hasn't given up hope that forward Lance Franklin will be fit for Friday night's knockout final against the Sydney Swans.

The Coleman Medallist hyper-extended his knee during the weekend loss to Geelong.

Hawks assistant coach Adam Simpson rated the star an "outside chance" to come up this week.

"He's a chance … probably an outside chance, but he's in the mix," Simpson said from Waverley Park on Monday.

"I don't think he'll do a lot this week.

"We'll just see how the swelling goes, and if he comes to a point later in the week where he can train, that would be great.

"We're not holding out a heap of hope, but there is a hope there."

It was feared immediately after the incident that Franklin may have ruptured his anterior cruciate ligament, but scans on Saturday delivered good news.

The two-time All Australian was diagnosed with bruising, swelling, fat-pad damage and a hyper-extension, but was told that his ACL was in tact.

Simpson said Franklin was remaining positive about his chances of recovering in time, but the final decision would rest with the club's doctors.

"The swelling has come down a little bit, so it's a good result," Simpson said.

"And he's pretty keen, Buddy, as you'd expect, but we won't know for a couple of days yet.

"I think we just have to back in the medicos and what they say.

"I don't think they'd risk him if there was any chance of making it worse, that's for sure."

Mark Macgugan writes for hawthornfc.com.au and covers Hawks news for afl.com.au. Follow him on Twitter: @mmacgugan.