MELBOURNE has raised $758,901 at its fourth consecutive Foundation Heroes event, held at Myer Mural Hall on Wednesday night.

The red and blue faithful was asked to stand up in tough times and it delivered with another outstanding contribution.

The focus of the night was to give the club the chance to pay 100 per cent of its Total Player Payments (TPP).

Vice-president Don McLardy, club great Garry Lyon, interim coach Todd Viney and captain Brad Green addressed the 400-strong crowd. 

Melbourne also acknowledged 11 club greats at the start of the night: Noel McMahen, David Neitz, Ron Barassi, Hassa Mann, Stephen Smith, Todd Viney, Greg Healy, Brian Dixon, Garry Lyon, Stuart Spencer and Robert Flower.

The club also announced that five players had signed new deals, including outstanding young midfielder Jack Trengove, who signed a contract extension until the end of 2015.

Long-kicking defender Luke Tapscott has signed on until 2014 and ruckman Max Gawn has a new contract for 2012-13.

Michael Evans and Daniel Nicholson have agreed to new one-year rookie list deals for 2012.