Former Collingwood premiership captain Tony Shaw has urged his old club to come clean about their mistakes in the trade period.

The Magpies have come under scrutiny for the departures of Adam Treloar, Jayden Stephenson and Tom Phillips and the lack of clarity around the decisions to trade their prized assets.

Shaw slammed his old club for their "shemozzle" trade period and urged the Magpies to take ownership of their salary cap blunders and apologise to fans.

“It [the trade period] was a bit of a shemozzle, they stuffed it up and all they gotta do is come out and say, ‘yep we stuffed it up, with back-ended contracts, we couldn’t get it in the salary cap, but then we saw an opportunity [to fix it],” Shaw told 7NEWS.  

“You’ve gotta be upfront, you’ll get found out sooner or later [if you’re not],” Shaw said.

“All [Buckley’s] gotta be is be honest with them, he [needs to say] ‘this is how it happened, this is how it occurred.’"

Shaw's comments come after 900 Collingwood fans signed a petition to hold the 'president, coach and board" accountable for the trade moves.

"This is a dark dark day in the history of the Collingwood Football Club," the petition reads.

"Our club is spiraling into shocking territory. Bad press, salary cap issues. From the top the President and Board must answer serious questions. They have treated members and supporters with no respect."