Collingwood coach Mick Malthouse has apologised to St Kilda forward Stephen Milne but the AFL could still investigate Friday night's ugly confrontation.

The two clubs put out media statements late on Sunday night, with Malthouse making a surprising back down and admitting his comments to Milne were "wrong".

In return, the Saints said Milne apologised for "inappropriate" comments to Malthouse.

It is alleged Malthouse called Milne a "f..ing rapist" during a heated quarter-time exchange involving players and officials from the two clubs on Friday night at Etihad Stadium.

Milne apparently made derogatory comments about Malthouse's age - at 56, he is the league's oldest senior coach.

Sunday night's media statements followed a day of sensitive negotiations between the two clubs in a bid to close the matter quickly.

The two clubs were prepared to make complaints to the league before their agreement.

But the controversy and its aftermath dominated an eventful weekend in the AFL and the league could well decide that the Malthouse-Milne exchange still demands an official investigation.

"It was only after the match that I reflected fully on the events and my actions at quarter time," Malthouse said.

"I apologise to Stephen Milne for comments I made in the heat of the moment, which were wrong and I retract them.

"I accept that after 27 years as a coach I should know better than to respond to incidents like this."

The Collingwood statement added: "Due to the fact that Stephen Milne acknowledges his comments to Mick Malthouse were inappropriate, Collingwood will not be taking action through the AFL regarding his conduct."

When asked about the incident immediately after the game, Malthouse said he was not talking to St Kilda players.

Soon after Malthouse's apology, the Saints declared: In response to the statement issued by Collingwood ... St Kilda advise that due to Mick Malthouse's apology (they) will not make an official complaint to the AFL regarding his conduct.

"Stephen Milne accepts the apology that has been made by Mick Malthouse and acknowledges that his comments to an opposition coach (Malthouse) were inappropriate."

Malthouse's insult to Milne was in reference to a 2004 police investigation into allegations of sexual assault against Milne and team-mate Leigh Montagna.

No action was taken over the allegations.

On Saturday, the Saints appeared set on lodging an official complaint with the league.

In 2000, the AFL tribunal fined Essendon coach Kevin Sheedy $7500 for making a throat-slitting gesture to West Coast player Mitchell White at halftime of a match.

Earlier on Sunday, Milne's former St Kilda team-mate Aussie Jones said on ABC radio that Milne was "ropeable" over the incident.

Jones slammed Malthouse and assistant Paul Licuria, who was also involved in the quarter-time confrontation.

Brought to you by AAP © 2024 AAP