An early ankle injury to Lance Franklin severely curbed the big forward's influence on the game while Kurt Tippett went goalless, easily contained throughout by the hardworking Bulldogs' defence.

Ex-GWS man Tom Boyd meanwhile played the game of his life at the MCG, booting three crucial goals in the 22-point win and performing strongly as back-up ruckman to end his side's 62-year wait for a premiership.

Boyd has just finished the second year of his million-dollar contract, while Franklin is now a third of the way through the nine-season deal he committed to when leaving Hawthorn, worth $10m.

Tippett signed a four-year deal believed to be worth $3.5m when he joined the club at the end of 2012, and has since extended that deal until the end of 2018.

Yet the Swans are still to secure a flag with Tippett and Franklin on their books, despite finishing as minor premiers this season and in 2014.

Saturday's was the third grand-final loss of Franklin's career.

He was a Hawk when Sydney triumphed in the 2012 thriller, then was again on the wrong side of the ledger in 2014 when Hawthorn crushed the Swans by 63 points.

Playing his fourth decider in five years on Saturday, Franklin's afternoon began in disastrous fashion when he rolled over on his right ankle barely five minutes into the game and was raced from the field and into the changeroom grimacing in pain.

The 29-year-old returned soon after playing as Sydney's deepest forward, and raced back down the tunnel at quarter time for further treatment to the injury.

"He hurt it a couple of times in the first quarter," Swans coach John Longmire said.

"He went off and got some assistance from that and came back on. But those things happen.

"He was okay. He had to come back on. Once that happens in the first couple of minutes you have to get on with it. You've just got to do it."

Franklin usually feasts upon the Bulldogs' defence, and had kicked 14 goals against them in his last three games, but he only managed one on Saturday.

It came in the fourth quarter when Sydney desperately needed a lift. Franklin led 50m across the ground and marked Tom Papley's pass just inside the arc, close to the right boundary line.

He went back and steered it through, bridging the gap to just one point, but it wasn't enough to inspire a Swans comeback against the hard-running Bulldogs.

Despite the injury, Franklin worked tirelessly throughout, but was unable to stamp his usual impact on the contest.

The superstar Swan managed just six touches to the main break, before moving up the ground after halftime in search of the football.

He was still clearly not in peak physical shape, but had decided he needed to inject himself at the coalface as the rabid Bulldogs continually shut down every skerrick of time and space that opened up for the Swans.

Midway through the third term he spotted up Xavier Richards with a spearing 50m pass from the wing, allowing his younger teammate a chance to go back and slot a crucial goal. Richards missed. Later, Franklin sprinted hard towards the interchange gate to lay a crunching tackle on Dale Morris, who subsequently kicked the ball out on the full.

Morris had his revenge though, in the fourth quarter as the Bulldogs' wave of momentum crested.

Franklin found himself with possession in the centre square and Morris charged at him, forcing the ball loose and the umpire's hand to call holding the ball.

The Bulldogs played on and Tom Boyd picked the ball up and slotted a goal from 60m. That was the major that ultimately ended Sydney's brave resistance.

It was the moment where the Bulldogs' money man justified every cent he'd been paid since leaving the Giants.