Collingwood defender Heath Shaw admits it would be a bit weird if Mick Malthouse guided the Magpies to consecutive premierships then immediately stepped down.

Malthouse signed a five-year deal in 2009 and that includes handing over the senior coaching role to his assistant, Nathan Buckley, at the end of 2011.

Three-time premiership coach Malthouse has agreed to be director of coaching at Collingwood for 2012-14.

However the finer details of the role are yet to be established as speculation grows that Malthouse may be tempted by coaching offers from other clubs next season.

Adding to the intrigue, Malthouse has guided the defending premiers to top spot after 16 rounds of the AFL season.

Malthouse's manager Peter Sidwell said last week that Malthouse was at the peak of his coaching powers.

But Sidwell insisted the 57-year-old would not leave the Magpies to coach another club next year.

The five-year deal can be broken if both parties agree.

"You don't see it very often," Shaw told OneHD's One Week At A Time program on Monday night.

"If we do win again, he wins two premierships and leaves (the role of senior coach).

"But I suppose that's the way it goes. It's a good way to finish."

Asked if he thought the deal was a bit weird, Shaw said: "At the time I didn't.

"But you sort of do now

"You think `what if we won two, and all that?'

"(But) Mick has had a pretty good career and a long career and I don't think his hair could get any greyer, so it's a good time to finish."

Shaw said Malthouse, who has coached Collingwood since 2000, had shown a lighter side which is the opposite to his public image as a stern character.

"In the last couple of years he has definitely been a bit more relaxed," Shaw said.

"Mick's actually a really funny bloke.

"In meetings before the game and after the game and during the week, he always manages to crack a joke and get everyone laughing.

"He's just very relaxed and he has a lot of faith in the playing group."

Shaw said Buckley was learning the ropes from the master.

"He does (joke around) a little bit. He's learning everything off Mick," Shaw said.

"He does have that prankster side to him as well."

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