Woolworths may give up control of the iconic Hills clothesline brand early to save an extra $10 million in the demise of Masters after pursuing it as a "hero" brand in the $75 million clothesline category in 2014 in an ultimately futile fight against Bunnings.

It is understood that negotiations under way between Hills and Woolworths about the future of a licensing deal, originally struck in 2014, centre on the exit provisions in the agreement, which was intended to run for 19 years.