Mick Malthouse's future at Collingwood is in serious question amid new speculation the Magpies premiership coach will quit the AFL club at the end of the season.

Malthouse has already agreed to vacate the Magpies' head coaching role for 2012, with Nathan Buckley to take over.

Malthouse would then move upstairs to become the Magpies' director of coaching until 2014 under a contract signed two years ago.

But newspaper reports on Friday claimed Malthouse would not be at the Magpies in any capacity in 2012, and would back away from the three-year director of coaching deal.

That would allow him to chase another senior coaching vacancy either next season or, if he chooses to take a year's sabbatical, in 2013.

Melbourne look certain to renew their interest in Malthouse after Hawthorn's Alastair Clarkson re-signed with the Hawks on Friday.

Magpies president Eddie McGuire was forced to hose down speculation on Malthouse on Friday, but did little to shoot down suggestions the coach would eventually walk away from Collingwood.

He said any speculation about Malthouse's future was "not relevant until the end of the season".

"The year after hopefully he'll be at Collingwood," McGuire said on Melbourne radio station Triple M.

"Mick's the coach, Bucks will be the coach next year.

"I'm anticipating that Mick will be there in the position of director of coaching.

"If, at the end of this campaign Mick needs a break, then we'll consider that as we go.

"But he has a three-year contract with the football club and that's as much as I can say in a nutshell."

The Herald Sun reported on Friday Malthouse had made his mind up several weeks ago to leave the club at the end of this season.

But he was keeping his decision quiet to avoid any potential disruption to the club's premiership defence.

Malthouse has every chance to win back-to-back premierships with the Pies this season, which would further heighten the clamour for his services.

"He knows very much at the moment what's in front of him and what the agreement is," McGuire said.

"He knows what the role is ... and as far as I'm concerned it's business as usual, as we announced two years ago."

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