Terry Wallace's fate will head the agenda at a Richmond board meeting on Tuesday night, with the AFL club likely to let him coach on rather than immediately force him out.

Wallace's five-year plan to make the Tigers a force lies in tatters following an eight-point defeat by last year's wooden spooners Melbourne on Sunday, but he has refused to quit as coach.

Club president Gary March confirmed on Monday Wallace would remain at the helm at least until the club's planned mid-season review of the coaching position.

But March ominously warned the Tigers had a plan B should Wallace decide to part ways with the club mid-season - a clear indication Wallace has no chance of securing a new deal and more defeats could still lead to a coaching change before season's end.

"As a club, you've got an obligation to have contingency plans in place," March told Melbourne radio station SEN.

"We've thought through those things (Wallace leaving mid-year) and we have got some plans in place.

"We are going through a process (beyond 2009), and we are not going to play it out in the media.

"He (Wallace) is contracted through to the end of the 2009 season and ... we've said we do a review of our coaching position mid-season.

"That's still ongoing, so nothing's changed."

Wallace had promised finals within his five-year contract which expires at the end of 2009, admitting his career would be over if he didn't deliver.

But the Tigers' hopes of making it to September for the first time under Wallace appear dashed after their 0-4 start to the season.

Wallace has won just 35 of 92 matches during his tenure - a worse winning percentage than his much-maligned predecessor Danny Frawley.

The under-fire coach arrived at the club's headquarters on Monday morning amid a barrage of media attention, declaring it was business as usual ahead of the club's clash with North Melbourne on Saturday night.

He is believed to have met with March and football operations boss Craig Cameron during the day.

March confirmed Wallace was also likely to attend the club's regular board meeting scheduled for Tuesday night, though he denied that was anything out of the ordinary.

"That's our regular board meeting, it wasn't a specially called for meeting," March said.

"Terry normally comes and makes a presentation."

March categorically ruled out luring four-time Essendon premiership coach Kevin Sheedy, who is employed at Richmond in an ambassadorial role, into a comeback if a caretaker was needed.

He said he was mystified by his club's start to the year, saying the players' dreadful performances this season may be a "mental issue".

"At the moment they're just playing awfully - I think that's probably the only way you could describe it," March said.

"Our form's terrible at the moment and we've got to do something to snap them out of that."

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