Port Adelaide forward Jeremy Finlayson has confessed to directing a homophobic slur toward an Essendon player during the Power's 69-point win on Friday night.

The comment was picked up by the microphone of an on-field umpire and called out by Bombers players on the field.

While the AFL investigate the situation further, Finlayson and the club have acted with contrition since the incident, addressing the situation during the match before apologising to the victim at the end.

"A contrite Finlayson made the club aware during the three-quarter time break and apologised to the victim on field after the final siren last night," the club revealed in a statement post-match.

"Finlayson, who will be counselled by club leaders in the coming days, will provide a statement tomorrow.

"The club will now wait for the AFL to complete its investigation."

Finlayson himself spoke on the matter on Sunday, taking "full responsibility" for his actions and expressing his remorse.

The Port Adelaide forward said he has begun to reflect on how he acts both on and off the field towards others.

“I take full responsibility for what happened Friday night,” Finlayson said.

“The word I used is very unacceptable in the game of football. We need to stamp it out and I'm very remorseful.

“I knew straight away that it was not acceptable and I take full responsibility.

“I addressed it at the time and… let everyone know what happened, and it's now in the hands of the AFL to investigate.

“I'm continuing to reflect and improve myself, getting all the education I can to make myself better.”

Finlayson will certainly face a sanction of some sort, the AFL implying the incident will be severely dealt with.

"We are aware of an alleged comment made by a Port Adelaide player in last night's match vs Essendon. We are taking this matter extremely seriously," AFL spokesperson Jay Allen said last night.

"AFLIU (AFL integrity unit) are now investigating and we will provide an update once that investigation is completed."

A $20,000 fine was issued to North Melbourne coach Alastair Clarkson following an incident involving a homophobic slur targeted toward St Kilda's Jimmy Webster and Dougal Howard in last month's preseason match.

We can expect the perpetrator to avoid a penalty of such magnitude this time around, given the differing scenarios and profiles involved, but the language of the AFL reveals a clear crackdown on incidents like these in 2024.

Finlayson will provide his own statement today and receive counceling from club leaders over the next few days.