In breaking news, Nathan Buckley has stepped down as Collingwood coach.

In a report from The Age's Jake Niall and Peter Ryan, Buckley was set to inform the club's football department and the playing group of his decision to depart on Wednesday morning.

Although Niall and Ryan's sources told them that Collingwood's Monday afternoon clash against the Demons in Sydney is set to be his final game, the pair were unable to confirm as much.

This has now been confirmed in a Collingwood Football Club press release.

In the statement, Buckley says “Everything has it’s time and the club and I have reached ours.”

“I’ve loved every moment of my time at the club and in any role I have given my all to it. This program is full of so many great people who are committed and connected to one another absolutely.

Collingwood CEO Mark Anderson paid tribute to Buckley’s legendary service to the club, placing an emphasis on his willingness to always put Collingwood first above all else.

“True greatness doesn’t depend on how long or how much or how many but on the legacy of those things. What they stand for. And to Collingwood people Nathan Buckley stands for just about everything they want the black and white striped jumper to represent,” Anderson said.

“This is a tough day for our club. While we can all see the wisdom in moving on, we know that he will be missed. He is a towering figure in the history of Collingwood.

Buckley is in his 10th season as the club's head coach, after taking over the post in 2012 following Mick Malthouse's departure, and leading the Pies to a narrow loss in the 2018 Grand Final to the West Coast Eagles.

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The Queens Birthday clash against Melbourne will be his 218th - and final - game as Collingwood coach, following which, St Kilda legend, Robert Harvey, will succeed Buckley as interim senior coach for the remainder of the season.