Collingwood president Eddie McGuire has slammed a report suggesting Fremantle's Ross Lyon wants to coach Collingwood next season.

On Saturday, Perth radio station 6PR reported Lyon had spoken to Collingwood about potentially taking over from Nathan Buckley should the Pies coach not be offered a new contract at the end of the season.

Speaking on Triple M's Hot Breakfast on Monday morning, McGuire sensationally shut down the rumours, and even revealed he spoke to Lyon on Sunday about the report.

“That is just made up,” McGuire said.

“Has Ross Lyon spoken to Collingwood about wanting to be the coach of Collingwood or has Collingwood spoken to Ross Lyon? Definitely, unequivocally no.

“He [Ross Lyon] was very, very disappointed by what had been reported, as I was."

McGuire once again stated no decision would be made on Buckley's future until the review of the football department is completed, which will likely be at the end of the season.

Football boss Geoff Walsh is currently conducting the review, and McGuire says the board will meet next week for a progress update.

“Anyone who’s talking about what’s going on with the coaching at Collingwood is making it up, completely making it up because no one has any visibility on this other than me,” McGuire said on Triple M.

“I’ll tell you what’s happening — what we’ve said for the last four months and that is that we’re doing a full review of the club and in due course we’ll make a decision regarding that.

“You can’t go guessing at these things. (Football boss) Geoff Walsh is doing the review and he has had a full chat to the president and to the chief executive and we have a board meeting next week and we’ll get to the next part of where we’re going and then we’ll get to the part where we’ll make the decision.

“Relax, we know what we’re doing, we know how to run the club and we’ll make the decision when it’s right to be made when we’ve got all the facts in front of us.

“We don’t go running around in circles.

“We’re not going to be like politicians who run around in circles who can’t come out and make strong decisions based on what’s right rather than what’s based in focus groups.

“We’re not going to be bullied into things because people want to have a deadline because it suits them.

“No. (The decision) will be made in the fullness of time when all elements are on the table, it’s as simple as that.”

The reporter at the centre of the rumour is radio presenter Brad Hardie, and both Buckley and Lyon have slammed Hardie's comments over the past 24 hours.

Lyon and Fremantle released a statement on Sunday morning surrounding the report, while Buckley questioned whether Hardie should keep his AFL media accreditation following Collingwood's loss to Port Adelaide on Sunday.

“Was I disappointed in Brad Hardie? I just think it is the (football media) cycle,” Buckley told reporters.

“You don’t need to take leaps of faith. You guys (in the media) know the ones who do the due diligence and do your work and support your suppositions with fact.

“And you also know the ones that take leaps of faith. You’ve got to hold those blokes to account.”